Edited by Aloke Tikku
| Friday April 28, 2017, NEW DELHI
The Goods and Services Tax regime that the government targets to roll out from 1 July could help push India's growth rate to above the eight per cent-mark in the medium term, the International Monetary Fund has said, painting a bright outlook for the Indian economy. Tao Zhang, the IMF's Deputy Managing Director believes India has made significant progress on important economic reforms, singling out the 12-digit unique identity system Aadhaar as one of the instruments for targeting subsidies that could help. But India, already the fastest growing emerging market economy in the region, still has to get a firm grip on its banking sector being pulled down by bad loans, and push labour reforms.