NEW DELHI, July 21: India has made “impressive progress” in increasing incomes and living standards but needs economic reforms including “serious fiscal adjustment” to stay on the growth path, the World Bank said.

The Bank’s first India development policy review, entitled “India: sustaining reforms, reducing poverty,” was posted on the World Bank’s Indian website on Monday.

“India has continued to make impressive progress in increasing incomes and improving standards of living in the past decade but it will be difficult to sustain this trend unless there is an acceleration of reforms including serious fiscal adjustment,” the report said. —AFP