Growing Economy in IndiaIndia is among the developing countries of the world with a rapidly growing economy. It is rich in ever-growing human capital. India is a member of the World Bank, which automatically makes it a member of other lending institutions like the IMF. The association with lenders comes with good policies, although the implementation of some of these policies is challenging as most are designed to cater to developed countries. Its association with lenders also allows it to qualify for loans. Short-term and long-term loans are used to stabilize the economy and reduce poverty levels. The loans have led to the growth of the Indian economy, its social and political scene, as well as the healthcare sector, thus ensuring a healthy nation with effective human capital. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get Original EssayFirst, the IMF came to India's rescue at a time of currency crisis due to persistent deficit in balance of payments payments on current accounts. In the post-partition period, India was experiencing balance of payments problems, particularly with the dollar and other hard currencies. Its imports were essential as they included food supplies, capital goods and raw materials. Furthermore, it could not expand its exports as this could cause serious shortages. The IMF loan was of crucial help. Second, the World Bank's creation of the India Aid Club, renamed the “International Development Forum,” provides economic assistance to India. Additionally, India enjoys the benefits of independence inspection and advice from the International Monetary Fund as experts keep watch over the Indian economy. Furthermore, projects in India such as river projects, land reclamation programs and communication development have benefited the World Bank through the International Bank for Reconstruction, Development and other international financial agencies. These projects have a great social impact as people can benefit from agriculture and good communication networks. In New Delhi, on December 13, 2017, the agreement between India and the World Bank also led to the issuance of 250 billion for job skills empowerment (LaRue, 2013). Operation Skill India Mission enables young people to acquire skills for the job market after training for around six months. SIMO has a mission to specialize in instilling entrepreneurial skills in women. Finally, Manmohan Singh credits the LPG reforms which saw a major change in the political scene in India, previously under the strict rules of Indira Gandhi. Narasimha Rao and Manmohan Singh influence the westerlies of LPG changes while serving in the 1984 government and RBI respectively (Fernando, 2011). The change became evident when Singh's endorsement of market liberalization became a reality. This is why foreign direct investment has become common in the country. However, these policy reforms are subject to criticism as they are believed to be due to IMF conditions. However, India has seen the disadvantages of engaging with institutions like the International Monetary Fund. This is mainly due to the conditions met to receive financial assistance. The involvement with the IMF came with the implication of its policies such as trade liberalization, the impact of which led to a significant decline in the Indian economy..