India's forex reserves jumped $9.11 billion to $615.97 billion in the week ended December 15 and the quantum of increase is one of the highest for a week, according to RBI data. In the previous reporting week, the overall reserves had risen $2.82 billion to $606.86 billion. In October 2021, the country's forex kitty reached an all-time high of $645 billion.
If the projections come true, then India would regain the tag of the fastest growing major economy of the world, crossing China with more than 0.7 percentage point in 2018 and an impressive 1.2 percentage point growth lead in 2019.
The green signal would pave the way for additional funds to the IMF and reforms related to the country representation at the multilateral lending agency, among others. The IMF would get more funding to tackle the global crisis under an expanded borrowing arrangement. The US has committed to increase its credit line by up to $100 billion.
Weaker demand for Indian exports and higher financing costs will lead to a deceleration in India's gross domestic product (GDP) growth rate to 7.9 per cent in 2008, the International Monetary Fund has said.The IMF's growth projections for India are in line with other estimates, including that of the Asian Development Bank, which pegged the 2008-09 growth at 8 per cent.
For 2015-16, IMF pegged India's growth rate at 7.5 per cent.
It have also called for enhanced monitoring of all protectionist measures and high-level political awareness of the associated macroeconomic risks.
India's foreign exchange reserves increased $2.54 billion to $597.93 billion for the week ended November 24, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had jumped $5.08 billion to $595.4 billion. For the week ended November 24, the foreign currency assets, a major component of the reserves, increased $2.14 billion to $528.53 billion, as per the data from the Reserve Bank of India (RBI).
IMF says there will be a lot of challenges to deal with, especially because of youth unemployment.
The International Monetary Fund on Thursday said capital control measures could be valuable for countries like Brazil and India, facing excessive short-term capital inflows that threaten to damage their economies. "Capital control are a little bit in the eye of the beholder, but it is certainly a part of the toolkit," said IMF spokesperson Caroline Atkinson at a news briefing.
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".
India has opposed a proposal on ad-hoc increase of quota of some countries in IMF, saying the redistribution of quota based on flawed formula cannot provide a durable solution to reform IMF.
India's forex reserves increased by $5.08 billion to $595.4 billion during the week ended November 17, the Reserve Bank said on Friday. In the previous reporting week, the kitty declined $462 million to $590.32 billion. For the week ended November 17, the foreign currency assets, a major component of the reserves, increased $4.39 billion to $526.39 billion, according to the Weekly Statistical Supplement released by the Reserve Bank of India (RBI).
Structural reforms, pro-people programmes and employment opportunities helped the economy get new vigour, the finance minister said. After contracting by 5.8 per cent in 2020-21, the economy recorded a growth of 9.1 per cent in 2021-22.
The International Monetary Fund on Thursday asked India to "very carefully" look at the much-touted Special Economic Zones, saying the giveaways and tax sops to the zones could divert industrial activity from the rest of the country.
The Cabinet's approval to increase India's quota in the International Monetary Fund follows Fourteenth General Review of Quotas of the agency.
'India has benefited from lower oil prices and remains the fastest-growing large economy in the world.'
India should give greater priority to markets and trade liberalisation than to capital market liberalisation, a top official of the International Monetary Fund has said.
With many countries piling up massive debts in the wake of the global crisis, the International Monetary Fund has cautioned that 'fiscal sustainability' is going to be a big problem for the coming several years.
India's forex kitty decreased by $462 million to $590.32 billion for the week ended November 10, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had increased by $4.67 billion to $590.78 billion. In October 2021, the country's forex kitty had reached an all-time high of $645 billio
Even though inflation in India may not seem too high now, it is imperative that New Delhi deals with it immediately before it spills over into other areas, says a senior International Monetary Fund official.
India's economic growth is likely to shrink by 1.25 per cent to 7.9 per cent this fiscal, mainly on account of tight monetary conditions and continued pressure on inflation, the International Monetary Fund said on Friday. The IMF report also warned that investment would be more affected than consumption on account of the tight monetary conditions and fall in global economy following US sub-prime crisis. Compared to China, India has little fiscal space to keep up the growth.
The International Monetary Fund has said that it expects India's economic growth to accelerate and inch closer to that of China.
Lauding India for its "comfortable" foreign exchange reserves, the International Monetary Fund said the country was not in need of any assistance from it.
IMF managing director Horst Koehler said Raghuram Rajan has been at the forefront of his work on banking and financial sector issues.
India's near-term growth has improved: IMF
The 2024 general elections are due in April-May and Fitch expects the Modi government to come back to power for the third time.
Prime Minister Manmohan Singh has expressed disappointment at developing countries being ignored in the selection of the president of world's key financial body, the International Monetary Fund (IMF).
A year after the scandal broke out, the former socialist presidential frontrunner accused the maid, Nafissatou Diallo, of 'knowingly and intentionally making a false report to law-enforcement authorities" that cost him his job, New York Post reported.
Differing with International Monetary Fund's growth forecast of 4.9 per cent for India during 2012, Planning Commission Deputy Chairman Montek Singh Ahluwalia said it has a statistical problem.
The new government that presents the full Budget for 2024-2025 in July should be ready to restructure the way divestment is managed and implemented, proposes A K Bhattacharya.
Indian economy is rebounding strongly providing a golden opportunity to tackle fiscal challenges decisively but steady rise in debt of the central and state governments could constrain the growth, according to a new International Monetary Fund report
It will take a period of time to recover back to the higher levels that India enjoyed in previous years, IMF director said.
The managing director of the International Monetary Fund, on a two-day visit in New Delhi, was speaking at a conference on growth aspects of Indian and Chinese economies.
US President Barack Obama on Sunday affirmed his commitment to enhancing India's 'voice and vote' in global financial institutions like IMF.
OPEC hopes lower fuel prices will stimulate more demand in the long run
'Five months after the elections in February 2024, the Pakistan army has not been able to break Imran Khan's resolve and break his political party.'
