The International Monetary Fund, IMF has lauded India's efforts in managing economy well with good measures amid persisting global uncertainties.

Appreciating India's economic reforms, IMF Managing Director Christine Lagarde said, the decision of government to cap subsidies at two per cent of GDP and a determination to improve the tax code are good measures.

The IMF Chief described India's expected growth rate of 7 per cent next year as significant, while reminding that vulnerabilities and fragile zones continue to remain in the global economic landscape.

She also cautioned that supply disruptions from Iran can push global crude prices by up to 30 per cent, at a time when the price is hovering at 125 Dollars a barrel. Ms. Lagarde, who is on a two-day visit to India, said, oil price shock will have its implication on the global economy including India.

She said, the IMF is keen on implementing quota reforms, that will provide more voting rights to emerging nations including India and China.