The International Monetary Fund has lauded the tightening of monetary policy by India as an appropriate step, as the country is faced with high inflation and needs to consolidate the fiscal measures initiated during the slowdown. Abdul Abaid, senior economist in the IMF, World Economic Studies Division, said this at a news conference held yesterday at the headquarters in Washington. He said, the main challenge will be to ensure durable fiscal consolidation, including by implementing fiscal and other structural reforms. Abaid said, in relation to other countries in Asia, India has high inflation, and the tightening of monetary policy currently underway is appropriate. Referring to the latest World Economic Outlook, he said in India, growth is projected to be 8.8 per cent in 2010, and 8.4 per cent in 2011, which is supported by rising private domestic demand.