The IMF has said that the ongoing Goods and Services Tax (GST) reform is as an act of courage and some positive outcome is expected as a result of the decision.
Commenting on the issue, IMF chief Christine Lagarde told the media, "The GST reform is really an act of courage.
It really means reforming in-depth in each of the Indian States in order to substitute the State taxes with overall federal tax, the re-allocation of it and the digital platform that supports it.
"So, I am personally impressed by the work that is being done in that regard and expect some positive outcome.
There has been other reforms as well that has been conducted by the Indian authorities courageously. One of them -- as a former lawyer I am particularly attentive to because it particularly when you have to deal with the corporate sector banking sector that means help -- is the bankruptcy reform," she added.