Pressing the Indian Growth Accelerator: Policy Imperatives

March 11, 2015

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Format: Chicago

Rakesh Mohan, and Muneesh Kapur. Pressing the Indian Growth Accelerator: Policy Imperatives, (USA: International Monetary Fund, 2015) accessed September 19, 2024

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.

Subject: Economic sectors, Expenditure, Infrastructure, Manufacturing, National accounts, Public investment and public-private partnerships (PPP), Public sector, Transportation

Keywords: Base GDP series, Capital Account, East Asia, Economic growth, Exchange rate, Fiscal Policy, Foreign exchange, GDP ratio, Global, Growth, India, Infrastructure, Infrastructure investment, Infratsructure, Investment rate, Manufacturing, Monetary policy, Per capita income, Personal income, Private sector investment, Public investment and public-private partnerships (PPP), Public sector, Savings, Taxation, Transportation, WP

Publication Details

Pages:

40
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2015/053
Stock No:

WPIEA2015053
ISBN:

9781498301114
ISSN:

1018-5941

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