India: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India

International Monetary Fund

No 2025/054, IMF Staff Country Reports from International Monetary Fund

Abstract: The 2024 Article IV Consultation discusses that prudent macroeconomic policies have supported India’s economic resilience, with growth expected to recover from a recent softening and inflation expected to converge to target. Risks to the outlook include deepening geoeconomic fragmentation and a slower pace of domestic demand recovery. Policy priorities include continued rebuilding of fiscal buffers, gradual and data-dependent easing of monetary policy, further strengthening of financial resilience, and advancing comprehensive structural policies to invigorate investment, boost the quantity and quality of employment, and raise potential growth. Monetary policy has been broadly appropriate. Systemic financial risks are broadly contained but further reform and vigilant supervision are needed to address remaining pockets of vulnerability. Broad structural reforms are needed to support private investment, job creation, and medium-term growth. Near-term priorities include labor market reform, further reductions in trade restrictions, continuing the public investment push, and providing strong policy frameworks for a stable economic environment.

Keywords: IMF article; headline inflation; fund approval; gross investment; potential GDP; Anti-money laundering and combating the financing of terrorism (AML/CFT); Capital spending; Global; Eastern Europe (search for similar items in EconPapers)
Pages: 137
Date: 2025-02-27
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