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IMF advises India to press ahead with reforms to consolidate gains

India is on the right reform track but should continue with a planned tax and other measures, according to an International Monetary Fund research note. “To reduce external vulnerabilities and reach the authorities’ fiscal deficit goal of 3% of GDP by 2017-18, continued fiscal consolidation is needed, including by passage of goods and services tax [bill] and further subsidy reforms,” it said.

The Economic Times (India)/Press Trust of India (7/28)