IMF predicts India's growth at a fast pace
Published: Jul 18, 2018
By TIOLCORPLAWS News Service
WASHINGTON, JULY 18, 2018: The IMF on Monday forecasted a growth rate of 7.3% in 2018 and 7.5% in 2019 for India, which was down by 0.1% and 0.3%, respectively, than its April projections. Economic Counsellor and Director of the Research Department of the IMF mentioned the reporters that India's growth is down but it is growing very strongly. He further added that for India being an oil importer the main factor was the rise in oil prices. In other respects like monetary policy, the main factor behind downgrade was the general tightening in global financial conditions which is playing a role in affecting India's growth.
Despite slight downgrading, India's growth remains quite robust into the future.
