IMF growth Prospects for India: Key Facts

Highlights:

  • 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 %.