GST to push India's growth but bad loans still a problem: IMF
The ambitious Goods and Services Tax to be implemented from July 1 would help raise India's medium-term growth to above eight per cent, the IMF has said, but expressed concern over the health of the country's banking system.
The ambitious Goods and Services Tax to be implemented from July 1 would help raise India's medium-term growth to above eight per cent, the IMF has said, but expressed concern over the health of the country's banking system.
Observing that India is the "fastest growing emerging market economy" in the region, Tao Zhang, Deputy Managing Director of the International Monetary Fund, said the IMF believes that India will continue to grow at a fast pace, with a projected 6.8 per cent rate for Financial Year 2016-17 and 7.2 per cent in 2017-18.
"The government has made significant progress on important economic reforms that will support strong and sustainable growth going forward," Zhang told
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)