IMF growth Prospects for India: Key Facts
- The World Economic Outlook of the International Monetary
Fund (IMF) has given the following prospects about the growth trends for India:
- IMF has retained its growth projection for the country at
7.5 % for 2019-20 and said it is likely to accelerate to 7.7 % in 2020-21.
- This brings cheers for India as the world growth rates have
been revised downwards.
- India will remain the fastest-growing economy in the world,
at least for the next two years.
- 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.
- The projection by IMF is higher than the Central Statistics
Office’s (CSO) estimate of 7.2 % and lower than the RBI’s estimate of 7.4 %.
- IMF’s estimates are in line with the World Bank’s estimate
of 7.3 %.