## India: 2009 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for India

_IMF Staff Country Reports, March 23, 2010_

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## Bibliographic details
- Published: March 23, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451982329.002

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### Summary of main findings
- India’s medium-term growth prospects remain bright.
- Prompt fiscal and monetary easing, combined with the fiscal stimulus already in the pipeline and the return of risk appetite in financial markets, have brought growth close to pre-crisis levels.
- Executive Directors congratulated the authorities on their strong record of sound macroeconomic policies and decisive actions leading to India’s early and vigorous recovery from the global crisis.

### Risks and constraints
- Primary risks to a favorable outlook stem from difficulties in implementing productivity-enhancing reforms.
- Continued supply bottlenecks present material downside risks to the outlook.

### Policy assessment and implications
- Fiscal policy: Prompt fiscal easing and a fiscal stimulus in the pipeline were important contributors to the recovery.
- Monetary policy: Prompt monetary easing supported the return to near pre-crisis growth.
- Financial markets: The return of risk appetite in financial markets aided the recovery process.
- Structural reforms: Implementation of productivity-enhancing reforms is critical to secure the medium-term growth outlook and mitigate downside risks from supply constraints.

### Subjects and keywords (as provided)
- Subject: Commercial banks, Corporate bonds, External debt, Financial institutions, Inflation, Public debt, Revenue administration
- Keywords: anti-hoarding measure, app, Commercial banks, Corporate bonds, CR, Global, inflation pressure, ISCR, net portfolio inflow, relations with the World Bank Group, reserve bank of India

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## Content in this bundle

- **1.  Millennium Development Goals, 1990-2007**
  - [1.  Millennium Development Goals, 1990-2007 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2010/_cr1073.pdf.md){rel="alternate" type="text/markdown"}
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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/india-2009-article-iv-consultation-staff-report-staff-statement-public-information-notice-on-23714_