"Some countries have to go full-speed ahead to do this fiscal consolidation," Lagarde said.

Speaking to NDTV’s Ira Duggal at the World Economic Forum in Davos, Professor Kenneth Rogoff said that a country like India should focus on liberalisation and reforms than worrying about the macroeconomic picture.

Harish Manwani, Chief Operating Officer of Unilever believes that if India improves its productivity, it will be able to achieve the growth inflation balance.