Georgieva, who served as the World Bank's chief executive officer before moving to the IMF in October, has made reversing inequalities one of her top priorities
IMF also said there were weaknesses in the deflation method used to derive value added. Deflators are used to convert GDP at current prices to constant prices
The Budget projected the Centre's fiscal deficit to come down to 3.3 per cent of the country's gross domestic product (GDP) in 2019-20 against 3.4 per cent a year ago
The IMF has some useful suggestions
This comes days after IMF Chief Economist Gita Gopinath cautioned the Fund may revise India's growth forecast 'significant downward'
Despite some improvement in reported fiscal deficits, debt as a share of GDP remains little changed over the past decade partly due to increases in off-budget financing, IMF said
IMF's projection is much higher than those by most agencies. RBI's latest projection pegged growth at 5 per cent, Standard & Poor's at 5.1 per cent, Moody's at 4.9 per cent and Fitch' at 4.6 per cent.
Government needs a credible consolidation path to rein in debt, including reducing subsidies and boosting the tax base, says IMF.
"India is now in the midst of a significant economic slowdown," Salgado told reporters
India's consolidated deficit (the Centre and states combined) is the highest among G20 nations, she added. "So, it's not a free lunch and this has to be very carefully managed," she said
A fall in consumption, lack of private investments and sluggish exports are being blamed for a slower GDP growth
Details of how the money would be used over the plan's three years weren't given
The key to boosting growth lies in boosting investments, not consumption
It may be hard to square data with the revival being forecast, but economic soothsayers may well be right when they predict 5.8% growth for Q2, 6.4% for Q3 and 7.2% for Q4, T N Ninan explains why
Notably, under the IMF's geographical division of the world, South Asia does not include Afghanistan and Pakistan. For IMF, South Asia includes India, Bangladesh, Nepal, Sri Lanka, Bhutan
The surest way out would be for governments to work together, while moving to bolster growth at home
The IMF slashed its outlook for the region's three largest economies -- Saudi Arabia, Iran and the United Arab Emirates
We see the Indian economy rebounding from our projected 6.1% growth this fiscal year to something like 7% in the next fiscal year, the IMF said
A synchronized slowdown across almost 90 per cent of the world economy dominated talks at the International Monetary Fund and World Bank's annual meetings in Washington
IMF and World Bank meetings were expected to be dominated by the trade disputes which were triggered by the Trump administration's get-tough policies aimed at lowering America's huge trade deficits