International Monetary Fund chief, Christine Lagarde during her visit to New Delhi said the global economic slowdown has presented many lessons. The financial and real estate sectors are the prime causes of the global financial crisis, she added.
"Whether it is China or India, the financial sectors and the financial institutions have to be strong, have to be agents for growth and not a threat to growth," she added.
Pleased with India's reforms , Lagarde said that strong economic policies and prudent supervision of the financial sector have allowed the government to limit the direct impact of the crisis on the economy and the financial system.
India has established itself as a leader on the international economic stage and has navigated the global financial crisis well, Lagarde said in an interview to PTI.
Referring to the financial crisis in the Euro zone, the IMF chief said concerted efforts by some European nations and the European Central Bank (ECB) had pulled the continent furtherRead More »from Lagarde lauds India’s steps to sail through the global crisis