The Indian government needs to introduce key reforms to improve infrastructure and address supply-side constraints to check inflation to spur economic growth beyond 7% a year, International Monetary Fund (IMF) officials said on Monday.
Even without any reforms, the economy is capable of growing at 7%, the officials said at a forum in Mumbai. The country has the potential to even grow at an annual pace of 9%—the rate it had attained before the 2008 financial crisis. To cross 7% growth will need policy and reform impetus.