<p>India is embarking on significant reforms and will grow at more than 7 per cent, IMF Managing Director Christine Lagarde has said.<br /><br /></p>.<p>"China is rightly rebalancing from manufacturing to services, from investment to consumption, and from exports to domestic services – which should produce a more sustainable, albeit slower growing economic model. Even so, it will continue to grow at a robust rate of about 6 per cent.<br /><br />"So too will India, which is also embarking on significant reforms, at more than 7 per cent," the International Monetary Fund (IMF) quoted Lagarde as saying at an event in Northwestern University, US.<br /><br />She said the world has changed fast over the past 20 years and it will not stand still.<br />"In the emerging and developing countries – home to 85 per cent of the world's population – we have seen more progress for more people than at any time in history: child mortality is down, life expectancy is up, absolute poverty has declined, school enrollment is on the rise," she said.<br /><br />Recently, Asian Development Bank also said India's economy will remain on a strong growth path this fiscal and clock a growth of 7.4 per cent, aided by implementation of key structural reforms, robust consumer demand and higher agricultural output driven by a good monsoon.<br /><br />India recently adopted structural reforms to attract more foreign direct investment and passed a legislation to allow a national tax that will create a more integrated and productive economy.<br /><br />The government intends to implement the goods and services tax (GST) from April 1, 2017. <br /></p>
<p>India is embarking on significant reforms and will grow at more than 7 per cent, IMF Managing Director Christine Lagarde has said.<br /><br /></p>.<p>"China is rightly rebalancing from manufacturing to services, from investment to consumption, and from exports to domestic services – which should produce a more sustainable, albeit slower growing economic model. Even so, it will continue to grow at a robust rate of about 6 per cent.<br /><br />"So too will India, which is also embarking on significant reforms, at more than 7 per cent," the International Monetary Fund (IMF) quoted Lagarde as saying at an event in Northwestern University, US.<br /><br />She said the world has changed fast over the past 20 years and it will not stand still.<br />"In the emerging and developing countries – home to 85 per cent of the world's population – we have seen more progress for more people than at any time in history: child mortality is down, life expectancy is up, absolute poverty has declined, school enrollment is on the rise," she said.<br /><br />Recently, Asian Development Bank also said India's economy will remain on a strong growth path this fiscal and clock a growth of 7.4 per cent, aided by implementation of key structural reforms, robust consumer demand and higher agricultural output driven by a good monsoon.<br /><br />India recently adopted structural reforms to attract more foreign direct investment and passed a legislation to allow a national tax that will create a more integrated and productive economy.<br /><br />The government intends to implement the goods and services tax (GST) from April 1, 2017. <br /></p>