IMF flags slowing reforms in India

Beijing: Listing out as many as six core areas that need further reforms in India, IMF has warned that headwinds from weaknesses in the country's corporate and bank balance sheets, decelerating pace of reforms and sluggish exports may weigh on its economic growth. IMF, which recently lowered its GDP growth projection for India to 7.4 per cent in the current fiscal, said the country's "economy is on a recovery path, helped by lower oil prices, positive policy actions and improved confidence".