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India a "bright spot" on cloudy global horizon - Lagarde

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - India's economy is a bright spot in a cloudy global economy, with recent policy reforms and improved business confidence set to boost growth, the head of the International Monetary Fund said on Monday.Speaking in New Delhi, IMF Managing Director Christine Lagarde welcomed the government's latest budget as "a step in the right direction", and singled out higher infrastructure spending for praise.The IMF, in its latest forecast last week, said it expected Asia's third-largest economy to grow by 7.5 percent in the 2015/16 fiscal year starting on April 1, below the ...

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First Published: Mon, March 16 2015. 13:22 IST