As it happened: IMF chief Christine Lagarde on Indian economy

March 16, 2015 01:29 pm | Updated November 16, 2021 05:13 pm IST

IMF MD Christine Lagarde.

IMF MD Christine Lagarde.

IMF Managing Director Christine Lagarde, who started her India tour on Monday, speaks at Lady Shriram College in New Delhi on Indian economy.

Here are live updates from our reporter Puja Mehra.

2:09 pm: A student asks Lagarde: Given reports of patriarchy, communalism will the 7.5% growth (IMF projectn for India) be largely for Hindu males?

2:08 pm: Christine Lagarde: I know how hard it's been for Greek population. Equally i know u can't constantly borrow to finance ur future

2:05 pm: For sustained growth reduce inequality. Research proves redistribution policies are not hampering growth," said Lagarde.

1:58 pm: "We at IMF are fairly confident of India's new (revised) GDP data. We have also asked for some more informatn on it."

1:57 pm: Christine Lagarde: Ensuring implementation is more important than Bold reforms

1:50 pm: "India's well-prepared, fundamentally strong (in context of expectations on timing of US Fed's interest rate hike)."

01:30 pm: "Don't get me wrong. Gender gap is an issue in all countries of world. We make recommendations, it is up to countries to adopt or not."

01:30 pm: We need more Indian women in areas beyond liberal arts, says the IMF chief.

01:22 pm: Christine Lagarde: This is India's moment; seize it. Chak de India !

01:17 pm: "Much needs to be done on land acquisition. I want more women Economists from India", she added.

01:12 pm: I want a larger quota for India at the IMF. This is India's moment; seize it. Chak de India !

01:05 pm: 33% female labour participation rate in India is lower than global avg of 50%. India's female labour participation rate has been declining since 2005 and this should be on the front page of your press, says Lagarde.

01:01 pm: Lagarde recommends GST,Subsidy reform as fiscal measures, sound financial mkts praises inflation-targeting monetary framework. "Growth can't be your only goal. But welfare of people, specially those have traditionally not been included. Your objective should be inclusiveness. That way u won't have these cycles of ups,downs that have been troubling you," she added.

12:50 pm: Christine Lagarde: India is bigger than sum of its parts. India is bigger than India.

12:53 pm: Christine Lagarde: While many countries in the world are grappling with low growth India's marching in the opposite direction.

12.55 pm: Christine Lagarde is known to give us new monikers for the economic situation at lectures. What will it be today.

12:57 pm: Christine Lagarde: India's the bright spot in the global economy at the moment.

12:59 pm: Christine Lagarde: Low global oil prices will last for next year and a half; then uncertainty after that.

12:30 pm: Structural reforms needed across the world for faster growth, says Lagarde.

12:32 pm: Time of low global oil prices is the time for removing fuel subsidies which benefit rich more than the poor, says Lagarde.

12:33 pm: Christine Lagarde: recent reforms have given booster shot to India'sgrowth. See 7.5% growth next yr, making it d fastest growing

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