IMF upbeat on India’s growth prospects

Confident that the Indian economy is increasingly on a stable footing, IMF on Sunday said further progress is required on long-standing supply bottlenecks and for achieving faster and more inclusive growth. "We are optimistic about India's prospects and view the economy being on an increasingly stable footing," said Kalpana Kochhar, deputy director of IMF's Asia and Pacific department Stock Market Trading Tips

"Inflation has declined, the current account deficit is in check, international reserves are ample and economic growth is picking up," she added. Listing out various positive developments, Kochhar said a number of important economic and structural reforms have also been initiated. 

These include diesel price deregulation, steps to create more flexible labour markets (particularly at the state level), coal sector reforms, adoption of the flexible inflation targeting framework by the RBI, increasing infrastructure spending, and enhancing financial inclusion, Kochhar said. 

"But further progress is needed to relax long-standing supply bottlenecks (especially in the energy, mining and power sectors) and achieve faster and more inclusive growth," she said Indian stock market astrology prediction