India's economic environment weak, needs urgent and ambitious reforms: IMF

he IMF in January lowered India's economic growth estimate for the current fiscal to 4.8 per cent

India urgently needs more ambitious structural and financial sector reform measures and a medium-term fiscal consolidation strategy due to the rising debt levels , the International Monetary Fund (IMF) said Thursday.

Responding to a question on the recent budget presented by Union Finance Minister Nirmala Sitharaman, IMF Spokesperson Gerry Rice said that there is a weaker economic environment in India.

"While the budget touches on ongoing sectoral efforts, there remains an urgent need for more ambitious structural and financial sector reform measures and a medium-term fiscal consolidation strategy, anchored in tangible revenue and expenditure measures, especially given rising debt levels,” Rice told