“There is a tremendous amount of distress in the agricultural sector and I believe that farm loan waivers don’t solve the problem on any kind of permanent basis. A cash transfer would be absolutely better than loan waivers and it would be more broad-based. Indian growth is high. We still say that it is the highest growth rate for a large economy, so that is a big positive. India is expected to remain the fastest growing major economy in the world for the next two years even as global growth slows down.”
IMF chief economist Gita Gopinath on sidelines of the World Economic Forum in Davos
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