DAVOS, Jan 24 (PTI): International Monetary Fund (IMF) chief Christine Lagarde today advised India to improve its business climate and remove a host of bottlenecks hampering investment.
�I think there is one word that applies to the Indian economy, the real economy, it is bottleneck. There are bottlenecks in many corners. I would say addressing bottlenecks of the Indian economy should be priority,� IMF Managing Director Lagarde told NDTV here.
She also said fighting corruption is important in all the countries where the menace exists.
Suggesting steps to boost the Indian economy, the IMF chief further said the government should focus on fiscal consolidation.
India has set up a Cabinet Committee on Infrastructure (CCI) to fast track large projects and has also established a project monitoring group.
The Government has initiated series of steps to contain the fiscal deficit at 4.8 per cent of the GDP in the current fiscal. The country�s economic growth slowed to a decade low of 5 per cent in 2012-13.
As regards to inflation, Lagarde said it is a reality for India and hoped the steps being taken by the RBI under the new Governor Raghuram Rajan would help in improving the price situation.