IMF Staff Country Reports

India: Staff Report for The 2015 Article IV Consultation

Publication Date:

March 11, 2015

Electronic Access:

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Summary:

This 2015 Article IV Consultation highlights that India’s near-term growth outlook has improved, and the balance of risks is now more favorable, helped by increased political certainty, several positive policy actions, improved business confidence, and reduced external vulnerabilities. Growth is projected at 5.6 percent for FY 2014/15, picking up to 6.3 percent in FY 2015/16, as a result of the revival in industrial and investment activity. However, weaknesses in India’s corporate and bank balance sheets will weigh on credit growth, and fiscal restraint and a tight monetary stance will act as headwinds in the near term, offsetting the positive growth impact of the improved commodity terms of trade.

Series:

Country Report No. 2015/061

Subject:

Banking Commercial banks Economic sectors External debt Financial institutions Inflation Prices Public sector State-owned banks