India's growth, he said, remains resilient with lowinflation, fiscal prudence and low current account deficit(CAD), talking about robust structural reform measures.
The IMF on Saturday said the impact of demonetisation has abated but insisted on quickly replacing the defunct currency.
Governments in the past even when they reformed they were in stages, always felt that there was a political cost involved, he said, adding that as a result after some reforms they would take a pause.
Annually, transactions worth around Rs 2,500 crore take place at fuel stations.
The Reserve Bank of India, in its monetary policy review meet on April 6, kept the repurchase or repo rate - at which it lends to banks - unchanged at 6.25 per cent but increased reverse repo rate to 6 per cent from 5.75 per cent.
The Reserve Bank of India had opted to leave the repo rate unchanged at 6.25 percent on April 6, and the minutes released on Thursday showed the six-member monetary policy committee had cited upside risks to inflation as the main reason for the decision.
"We are seeing early signs of investment intentions. Of course there are always clouds. There are clouds this time also," he said.
On Tuesday, hammering his "America First" campaign theme, Trump signed an order tasking the department heads of State, Justice, Homeland Security and Labor to propose reforms in order to ensure H-1B visas are given to the "most-skilled or highest paid" petitioners.
"The GST reform is really an act of courage," Ms Lagarde told reporters during the annual Spring meeting of the International Monetary Fund and the World Bank.
The six-member monetary policy committee had raised a secondary rate called the reverse repo rate, which is used to drain excess funds from banks.
India's growth has been "impressive" in the recent years which makes room for tax broadening efforts by the government, according to a top IMF official.
Economists expect inflation to be at 5.0 per cent for the 2017-18 fiscal year. This compares with the latest predictions from the RBI, which sees the rate at 4.5 per cent in the first half of the year and 5.0 per cent in the second half.
If monsoon rains are indeed normal, Consumer Price Index-based inflation in thefirst half of this year should average a benign four per cent, says BofA-ML.
The two-day OFS began on bourses today with over 7.73 crore shares being sold to institutional investors. Over 1.93 crore have been reserved for retail investors who will also be offered additional discount over the issue price.
The World Economic Outlook was released here before the start of the annual Spring Meeting of the International Monetary Fund and World Bank.
Petrol pumps in Tamil Nadu, Kerala, Karnataka, Puducherry, Andhra Pradesh, Telangana, Maharashtra and Haryana would be shut for 24 hours on Sundays, starting May 14.
The India Meteorological Department defines average, or normal, rainfall as between 96 per cent and 104 per cent of a 50-year average of 89 cm for the entire four-month season beginning June.
Indian firms had made investments of $1.42 billion in their overseas joint-ventures/subsidiaries in March 2016.
The 457 visa was introduced in the 1990s to expedite the entry of business professionals and highly skilled migrants but over time it was opened up to include a broad suite of workers.