IMF projects India to grow at 7.8 per cent in FY19
By MYBRANDBOOK
The International Monetary Fund (IMF) has recently announced that India's economy will grow by 7.8 per cent in FY19 and has retained its GDP forecast for the country at 6.7 per cent in 2017 and 7.4 per cent in 2018. IMF also said that 2017 saw the best global growth in seven years.
While the US is forecasted to grow 2.7% and 2.5% in 2018 and 2019, respectively, higher by 0.4 and 0.6 percentage points than earlier estimates.
It is also said that the emerging and developing Asia will grow at around 6.5 per cent over 2018-19, broadly the same pace as in 2017,” IMF said, adding that the region continues to account for over half of world growth.
“The aggregate growth forecast for the emerging markets and developing economies for 2018 and 2019 is unchanged. Growth is expected to pick up in India,” said the report, which was released ahead of the World Economic Forum meeting in Davos.
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