China is targeting average annual growth rate of 6.5% over the next five years in its 13th Five-Year Plan for 2016-2020 period. Despite the global economy slowing dramatically, China is …Read More
“It’s India’s moment; seize it. Chak de India!” This ringing endorsement of an upswing in India’s economic fortunes from the IMF chief should be music to the ears of India’s Prime Minister Narendra Modi and his core economic team, who are shepherding the second-generation economic reforms in Asia’s third largest economy.
Christine Lagarde, the chief of the International Monetary Fund, has betted big on the India growth story and underlined that India continues to be a bright spot when the global economic recovery continues to be “too slow, too brittle and too lopsided.”
Downbeat on the prospects of global economy, but upbeat on India, Lagarde reiterated the IMF’s forecast on the world economy, saying that more than six years after the global financial crisis, the world economy is expected to grow by just 3.5 percent this year and 3.7 percent in 2015.
“I want a larger quota of India at the IMF. This is India’s moment; seize it. Chak de India!” she said.Read More