India lags regional peers on fiscal consolidation: S&P Global's Louis Kuijs

In a Q&A, the Asia Pacific Chief Economist of S&P Global Ratings charts the key reforms India needs ahead of the general elections next year

S&P Global Ratings expects the fading economic reopening momentum in India and tight monetary policy to restrain domestic demand growth this year. However, it is more optimistic about the next financial year as it expects the rate cut cycle by the central bank to begin early in 2024. In an email interview with Asit Ranjan Mishra, Asia Pacific Chief Economist of S&P Global Ratings, Louis Kuijs, charts the key reforms India needs ahead of the general elections next year. Edited excerpts:

Many agencies have raised their growth forecast for India to above 6 per cent for FY24, after the more