As the Narendra Modi government has reached the last year of 5-year-term, two reforms undertaken in its tenure have won the heart of IMF Chief Christine Lagarde, which she says, will help India generate excellent growth rate of 7.4%, highest among emerging economies.
As the Narendra Modi government has reached the last year of 5-year-term, two reforms undertaken in its tenure have won the heart of IMF Chief Christine Lagarde — and it’s not demonetisation. The two reforms the International Monetary Fund Managing Director is all praise for the implementation of the Goods and Services Tax (GST) and Insolvency and Bankruptcy Code (IBC).
During a press briefing in Washington DC, Christine Lagarde, on being asked about India’s economy growth, said, “We have seen and we are seeing major reforms that we had recommended and advocated for a long time, whether you talk about the GST, whether you talk about the reform of the bankruptcy law, those are good reforms.”
“…and hopefully it will continue to position India in order to reap the benefit of the upswing, continue to develop its internal markets, and generate this excellent growth rate of 7.4%, if I recall, which is one of the highest in the emerging market economies.”
Not only did she praised these two key reforms, Christine Lagarde also expressed hope that more reforms are expected in future. However, she acknowledged that due to the upcoming elections, these reforms will not seem in the next few months.
Besides economic reforms, Christine Lagarde was also asked about the rape of an 8-year-old girl in Jammu and Kashmir’s Kathua, for which Prime Minister Narendra Modi is facing a lot of criticism back home, to which she said that she hoped that Narendra Modi and Indian authorities pay more attention to women in the country.
Christine Lagarde also said that at World Economic Forum in Davos, after Narendra Modi’s speech, she had told him that he had not mentioned the women of India enough.