RBI doing it right on rate hikes, need more: IMF economist Luis Breuer

He also said the Budget's focus on prudence and fiscal consolidation was a good step that will reduce and stabilise public debt, which is quite high in the country compared to other G20 countries

IMF senior representative to India Luis Breuer on Wednesday said the RBI was doing the right thing on rate hikes, and added that there was need for more.

“We believe that the tightening stance is appropriate for India in the medium-term, to promote sustainable and stable growth over many years, and not just focus on the next three months,” he said at the CII partnership summit.

Breuer also said the Budget’s focus on prudence and fiscal consolidation was a good step that will reduce and stabilise public debt, which is quite high in the country compared to other G20 countries.