Updated By: LatestGKGS Desk
IMF Study: India growth prospects key highlights
IMF Study: India growth prospects key highlights
The World Economic Outlook of the International Monetary Fund (IMF) has given the following prospects about the growth trends for India
1. IMF has retained its growth projection for the country at 7.5 percent for 2019-20 and said it is likely to accelerate to 7.7 percent in 2020-21. This brings cheers for India as the world growth rates have been revised downwards.
2. India will remain the fastest-growing economy in the world, at least for the next two years.
3. India’s growth rate is poised to pick up in 2019, benefiting from low oil prices and a slower pace of monetary tightening than previously expected as inflation pressures ease.
4. The projection by IMF is higher than the Central Statistics Office’s (CSO) estimate of 7.2 percent and lower than the RBI’s estimate of 7.4 percent. IMF’s estimates are in line with the World Bank’s estimate of 7.3 percent.
China’s GDP Declines
The GDP figures from China shows that it recorded its lowest growth rate in 28 years at 6.6 percent in 2018. IMF had estimated growth rate of 6.6 percent in 2018 and 6.2 percent in 2019 and 2020. As a result, India is poised to be th
