India should continue with reforms with special focus on financial services sector: Lagarde

The IMF has projected India`s growth at 7.4 percent for 2018, against China`s 6.8 percent.

New Delhi: International Monetary Fund (IMF) chief Christine Lagarde said that India should continue with reforms with special focus on financial services sector.

Lagarde said she genuinely hopes that India focuses on inclusion of women in its economy, including in rural areas.

The IMF yesterday projected India`s growth at 7.4 percent for 2018, against China`s 6.8 percent, making it the fastest growing country among emerging economies.

In its latest World Economic Outlook (WEO) update, the IMF has also projected a 7.8 percent growth rate for India in 2019.

The IMF said that China, during the same period is expected to grow at 6.6 percent and 6.4 percent respectively.Emerging and developing Asia will grow at around 6.5 percent over 2018-19, broadly the same pace as in 2017, IMF said, adding that the region continues to account for over half of the growth in the world.

"Growth is expected to moderate gradually in China, though with a slight upward revision to the forecast for 2018 and 2019 relative to the fall forecasts, reflecting stronger external demand, pick up in India, and remain broadly stable in the ASEAN-5 region," the IMF said.

With Agency Inputs