Press Release No. 16/85
March 2, 2016
On February 12, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with India.
The Indian economy is on a recovery path, helped by a large terms of trade gain (about 2.5 percent of GDP), positive policy actions, and reduced external vulnerabilities. Since late 2014, a collapse of global oil prices has boosted economic activity in India and underpinned a further improvement in the current account and fiscal positions, and engendered a sharp decline in inflation. A range of supply-side measures (including release of surplus grain buffer stocks) and an appropriate monetary stance have also contributed to the decline in inflation, f…
Read the full article at: http://www.imf.org/external/np/sec/pr/2016/pr1685.htm