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IMF wants India to focus on medium-term fiscal consolidation

Friday, February 14, 2020, 1:44 PM

The IMF says that the recent Indian budget's "accommodative fiscal stance" is appropriate in the weaker economic scenario, but wants New Delhi to focus in the medium term on fiscal consolidation because of the growing debt levels. The IMF sharply cut its growth estimate for the current fiscal year for India to 4.8% last month from the 7.5% made in January last year.