India is a bright spot on the dark horizon, says IMF

Washington: International Monetary Fund (IMF) has described India as a bright spot on the dark horizon. IMF Managing Director Kristalina Georgieva said that India deserves to be called a bright spot on this otherwise dark horizon because it has been a fast-growing economy, even during these difficult times. She was replying to a question on her expectations from India just days before it takes over the presidency of G20.

Ms. Georgieva was talking to reporters on the sidelines of the IMF and



World Bank Annual Meetings in Washington. She said, most importantly, India's growth is underpinned by structural reforms. 

IMF's Deputy Director of Fiscal Affairs Department, Paolo Mauro had earlier termed Narendra Modi government's Direct Benefit Transfer scheme, as 'logistical marvel' considering the sheer size of the country. Mauro had said that there is a lot to learn from India's DBT scheme that seeks to help people who are at low-income levels.