Pressing the Indian Growth Accelerator : Policy Imperatives

Author/Editor:

Rakesh Mohan ; Muneesh Kapur

Publication Date:

March 11, 2015

Electronic Access:

Download PDF. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

India’s real GDP growth slipped substantially after the North Atlantic financial crisis. Return to a sustained high growth trajectory is feasible but it will need much more focused attention to the revival of manufacturing and to the acceleration of investment in transport and infrastructure. The immediate priority is to achieve the kind of fiscal quality and low inflation levels exhibited during 2003-08, with focused attention to increasing efficiency and compliance in tax revenue collection. Higher tax revenues can facilitate increases in public investment, which then crowd in private investment. The task ahead will be more difficult in view of the protracted slowdown in global growth and trade.

Series:

Working Paper No. 15/53

Subject:

English

Publication Date:

March 11, 2015

ISBN/ISSN:

9781498301114/1018-5941

Stock No:

WPIEA2015053

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

40

Please address any questions about this title to publications@imf.org