IMF On India

India received the highest number of regressive tax recommendations from the International Monetary Fund (IMF) between 2022 and 2024, according to an analysis by Oxfam. The analysis, released ahead of the IMF and World Bank spring meetings in Washington, has flagged that the global body is applying "double standard" by giving largely progressive advice to wealthy countries while suggesting regressive measures for others that are "likely to exacerbate inequality". The report said 59 per cent of the IMF's tax advice to low- and lower-middle-income countries was regressive, while 52 per cent of its recommendations to high-income countries were progressive. A regressive tax refers to a uniform taxation system which burdens those in lower income groups more than high earners. In contrast, a tax levied in proportion to one's income is termed progressive. Oxfam examined 1,049 tax recommendations made by the IMF to 125 countries between 2022 and 2024 and found that only 30 recommendations,

The IMF on Monday raised India's growth projection to 7.3 per cent for fiscal 2025-26, up 0.7 percentage point from its October forecast, on the back of better-than-expected performance of the economy. The Washington-headquartered multilateral lending agency has also revised India's Gross Domestic Product (GDP) growth forecast to 6.4 per cent for fiscal year 2026-27 beginning April 1, 2026, from its earlier estimate of 6.2 per cent. "In India, growth is revised upward by 0.7 percentage point to 7.3 per cent for 2025 (fiscal FY26), reflecting the better-than-expected outturn in the third quarter of the year and strong momentum in the fourth quarter," it said in its World Economic Outlook (WEO) update. Growth is projected to moderate to 6.4 per cent in 2026-27 and 2027-28 as cyclical and temporary factors wane, the International Monetary Fund (IMF) said. According to India's statistics ministry, GDP during April-September of 2025-26 registered a growth rate of 8 per cent, on the back

The IMF said India continues to anchor global growth, adding that recent economic data has outperformed expectations and could prompt a higher growth projection in its January review

Finger talks about the task ahead for the 16th Finance Commission, impact of artificial intelligence (AI), and more

The IMF has 'assured' that its 'C' rating for India's national accounts data will be reassessed once the new gdp series is released in feb 2026

The IMF has said the IBC Amendment Bill addresses several deficiencies but leaves key issues unresolved, including operational creditors' voting rights, executory contract rules and persistent delays

According to the IMF's updated outlook, India is projected to surpass the $4 trillion threshold in FY26 and expand to roughly $4.96 trillion by FY28, just short of the $5 trillion milestone

The currency plunged to a record low on Friday after the central bank unexpectedly stepped back from defending it as firmly as before

The IMF released its revised projections following the effects of US tariffs across various economies and the subsequent deals made between countries amid growing uncertainty

To close the GDP gap with China, MSMEs, e-commerce, states, logistics growth, and the private sector must work synergistically, with time-bound targets and rewards

This request comes after a deadly attack on tourists in Phalgam, Jammu and Kashmir, which has made tensions worse between the two countries.

The new National People's Power (NPP) government in Sri Lanka on Tuesday announced its first reversal of a key element in the ongoing IMF bailout programme concerning the loss-making state-owned enterprises. The government reversed the Electricity Act, approved in June this year under then-president Ranil Wickremesinghe's government, introducing major reforms to the state power entity Ceylon Electricity Board (CEB). The Marxist NPP trade unions had then agitated against the bill. A CEB trade union leader who led the agitation is an NPP candidate in the parliamentary election scheduled for November 14. A CEB statement on Monday said the entity's privatisation programme would be scrapped and vowed to amend the CEB Reforms Act of 2024. It said there would be no privatisation of state-owned power plants, transmission and distribution processes. The CEB Reforms Act of 2024 paved the way for private sector competition in power generation. The move was aimed at easing the burden on publ

India remains the largest growing economy in the world, a senior official from the International Monetary Fund said, observing that the country's macroeconomic fundamentals are good. "India is said to remain the largest growing economy in the world. We project growth at seven per cent in FY24-25, supported by recovery in rural consumption, as there have been favourable harvests. Inflation is expected to decline to 4.4 per cent in FY24-25, despite some volatility as food prices normalize," Krishna Srinivasan, Director for the IMF Asia Pacific Department, told PTI in an interview on Tuesday. In terms of other fundamentals, he said, "despite elections, the fiscal consolidation remains on track. Reserve position is pretty good. Macro fundamentals, generally speaking, for India are good". He suggested that the country's reform priorities post-elections need to be in three areas. "One is, there's an issue about creating jobs in India and so on. In that context, I think implementing the .

IMF Executive Director Krishnamurthy V Subramanian noted the remarkable progress being made in financial inclusion through initiatives like the 'Pradhan Mantri Jan-Dhan Yojana'

Hard economic decisions will help its future

This uncertainty, it warns, could have profound effects on policymaking, particularly given the high cost of living and other political complexities

Also sees world economy growing faster at 3.2% in 2024

The Reserve Bank has told the International Monetary Fund (IMF) that the objective of frequent interventions in the forex market is to curb excessive volatility, dismissing the Fund's rationale for reclassifying India's exchange rate regime. The IMF, following the Article IV consultation with the Indian authorities, reclassified the status of the exchange rate regime to "stabilised arrangement" from "floating" for period between December 2022 to October 2023. India's Executive Director at IMF K V Subramanian and Senior Advisors Sanjay Kumar Hansda and Anand Singh questioned the selection period adopted by the Fund for analysis and also reclassification of the country's exchange rate regime. "... (IMF) staff characterisation of India's exchange rate as a 'stabilised arrangement' is incorrect and inconsistent with reality. As in the past, exchange rate flexibility would continue to be the first line of defence in absorbing external shocks, with interventions limited to addressing ...

Finance and central bank deputies meeting to start discussions on key agenda

India played a crucial role in the International Monetary Fund (IMF's) clearance of a 48-month Extended Fund Facility (EFF) worth USD 2.9 billion to crisis-hit Sri Lanka, reported True Ceylon