IMF says India’s economic growth projected at 7.2% in FY 18
DSIJ Intelligence / 24 Jul 2017
India’s economic growth projection has been kept at 7.2% by the International Monetary Fund (IMF) in FY18, which is slightly up from the last year’s projection of 7.1%.
India’s economic growth projection has been kept at 7.2% by the International Monetary Fund (IMF) in FY18, which is slightly up from the last year’s projection of 7.1%.
However, the growth would accelerate to 7.7% in FY19, while also maintaining the growth rate level projected in April, as per IMF.
In FY17, the India’s economic growth decreased to 7.1% which is comparatively lower than the previous year’s growth rate which stood at 8% because of the effect of demonetisation.
While on the other hand, China’s economy, on the other hand, will expand at the same rate in 2017 at 6.7% as it did in the previous year. The growth rate in China is estimated to be slower in 2018.
IMF has also maintained the same global economic growth rate for 2017 and 2018 at 3.5% and 3.6% respectively.
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