Summary:

India is expected to be the fastest-growing major economy, with the IMF projecting a 6.5% GDP growth rate in 2025-26, driven by robust private investment and macroeconomic stability. The government's second advance estimate also predicts 6.5% growth in 2024-25. The IMF emphasizes the need for structural changes to help India achieve its goal of becoming an advanced economy by 2047.

The IMF stressed the need for structural reforms to boost private investment, job creation, and economic growth. Labour market reforms, human capital development, and increased female workforce participation are top priorities. To attract FDI and private investment, stable policies, governance reforms, and trade integration are required. India's banking sector remains strong, with minimal non-performing loans and ongoing fiscal consolidation.

Source: IBEF 

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