India: 2012 Article IV Consultation-Staff Report; Staff Statement and Supplements; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for India

International Monetary Fund

No 2012/096, IMF Staff Country Reports from International Monetary Fund

Abstract: This Article IV Consultation reports that India’s growth remains relatively high, but various factors, including the unsettled global outlook and slow government decision making, have weighed on investment. Inflation has moderated, leading the Reserve Bank of India (RBI) to pause monetary tightening, but remains elevated. The slow pace of fiscal consolidation has added to demand pressures. Ensuring sustainable growth will require reinvigorating the structural agenda, rather than relying on monetary and fiscal stimulus. Measures to facilitate infrastructure investment, reform the financial sector and labor markets, and address agricultural productivity and skills mismatches stand out.

Keywords: ISCR; CR; CPI-IW inflation momentum; debt; deficit; import growth; portfolio equity inflow; inflation pressure; staff appraisal; Inflation; Exports; Real interest rates; Global; Eastern Europe; East Asia (search for similar items in EconPapers)
Pages: 69
Date: 2012-04-18
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