‘Unjustified’: Why India has drawn daggers over IMF’s latest forex report

India criticises IMF for claiming RBI excessively intervened in forex market; IMF reclassifies India’s exchange rate regime; RBI disagrees; IMF report highlights excessive interventions by RBI; RBI Governor states interventions shouldn’t be seen in absolute terms; rupee’s volatility at lowest level in a decade; intervention helps combat inflation and mitigate currency risk; IMF recommends flexible exchange rate; India’s economy projected to grow at 6.3%; IMF calls for reforms and consolidation efforts to address public debt; government targets fiscal deficit reduction.