International Monetary Fund. Asia and Pacific Dept
INTERNATIONAL MONETARY FUND
India has been among the fastest-growing economies in the world over the past few
years, lifting millions out of poverty. The authorities have initiated important structural reforms
to spur India's catch up with more advanced economies and to improve living standards for all.
The main reforms include the inflation-targeting monetary policy framework, the Insolvency and
Bankruptcy Code (IBC), the goods and services tax (GST), and steps to liberalize FDI flows and
improve the business climate.