A high-level delegation from the International Monetary Fund will kick off its annual Article IV review today and will hold a series of meetings with finance ministry and Reserve Bank officials.
Normally, the review is conducted immediately after the presentation of the union budget. However, this year with elections being declared, the IMF team decided to defer its review meetings.
Last year, the IMF team had come down sharply on the government and in fact sounded the alarm bells on the fiscal situation, junked the strategy to pump-prime the economy and instead called for bolder policy initiatives to revive the investment and growth momentum.