"It will happen and the pause cannot be too long," he said at a panel discussion on 'How Immune is India?' at the annual World Economic Forum meeting here.

"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.