IMF On India

Both the leaders shared concerns on key downside risks to the global economy and the cross-border effects due to the geopolitical situation and tighter financial conditions

An order stated that the Appointments Committee of the Cabinet has approved the appointment of Subramanian, who is currently professor (finance) at the Indian School of Business

Here are the top business stories on Wednesday

N K Singh, Chairman of the 15th Finance Commission, on Tuesday said the IMF's decision to revise India's potential growth forecast downwards to 6 per cent

Live news updates: Carlyle and other investors will withdraw their open offer to its shareholders; Zee accuses Invesco of double standards.

The International Monetary Fund stands ready to strengthen its dialogue and scale-up its technical collaboration with India, spokesperson Gerry Rice has said

In its annual World Economic Outlook, the Washington-based global financial institution said that the Indian economy is expected to grow by 6.9% in 2022

India's economy is on the path of gradual recovery, real GDP growth, return to positive territory in fourth quarter of 2020, IMF's spokesperson Gerry Rice said

But there is a need to provide a social safety net to the vulnerable cultivators, IMF's Chief Economist Gita Gopinath has said

IMF Managing Director Kristalina Georgieva asked the country to do more this year to support an accelerated transformation of the economy

IMF chief Kristalina Georgieva has praised India for taking "very decisive" steps to deal with the coronavirus pandemic and its economic consequences

The government has approved the proposal to appoint Simanchala Dash as an advisor to Executive Director, International Monetary Fund (IMF) in Washington.

In comparison, emerging markets and developing countries group saw a 2 percentage reduction in outlook while the world outlook was only cut by 1.9 percentage points

The impact of the coronavirus on the Asia-Pacific region will be severe, across the board, said IMF

Judicial intervention, though effective, is one step away from being an arrangement in which the people have a say.

"India is now in the midst of a significant economic slowdown," Salgado told reporters

The comments come amid allegations of the budget math not adding up with some pointing to a Rs 1.7 trillion hole in the estimates

Separately, the IMF has projected the inflation rate to rise to 5.2% in FY19

The International Monetary Fund said the near-term macroeconomic outlook for India is 'broadly favourable'

IMF also flagged external vulnerabilities on rising import bill, particularly from increasing oil prices and global protectionist measures