7% growth possible even without reforms: IMF

.....India’s export performance should recover while a high growth in import is a reflection that India is a supply-constrained economy,” Singh said in an event organized by Gateway House, a think tank. Reserve Bank of India (RBI) deputy governor Subir Gokarn, at the same event, acknowledged that domestic supply-side constraints are fuelling inflation and hindering growth. “High food inflation is locally driven, products that are driving it are not traded products. Even though it may not be linked to global commodity prices, there is a significant element of commodity shock there,” said Gokarn..................

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