here, the diode provides he current path when the switch is made off.
what happens is, when u make the switch ON, current flows in the forward direction(i.e. IL) providing the load current and charging the capacitor. some amount of energy is also stored in inductor. when u make the switch OFF,inductor do not allow the current to reduce to zero.but since the source is cut off from the circuit, charged capacitor provides some amount of current through this diode. also, energy stored in inductor freewheels through this diode providing current till the effect of inductor is nullified.