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IMF Managing Director Kristalina Georgieva has praised India for taking “very decisive” steps to deal with the coronavirus pandemic and its economic consequences and asked the country to do more this year to support an accelerated transformation of the economy.

Participating in a global media roundtable on Thursday, the chief of the International Monetary Fund predicted a less bad outlook for India in the upcoming World Economic Update due to the steps taken by it.

When I called on everybody to stay tuned for January 26, that applies very much to India. You would see a picture in our update that is less bad. Why? Because the country actually has taken very decisive action, very decisive steps to deal with the pandemic and to deal with the economic consequences of it, Georgieva said.

The IMF is scheduled to release its World Economic Update on January 26. Talking about India, she said it was a very dramatic lockdown for a country of this size of the population with people clustered so closely together.

“Then India moved to more targeted restrictions and lockdowns. What we see is that that

The wholesale price-based inflation slowed to 1.22 per cent in December on easing food prices, as per government data released on Thursday.

The inflation based on Wholesale Price Index (WPI) was 1.55 per cent in November 2020, and 2.76 per cent in December 2019.

The rate of inflation based on WPI Food Index decreased from 4.27 per cent in November 2020, to 0.92 per cent in December 2020, as per the data released by the Department for Promotion of Industry and Internal Trade.

It is to be noted here that retail inflation had also dropped sharply to 4.59 per cent in December, mainly due to declining food prices.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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