IMF cuts growth projection for India in FY19

Washington, July 16 

The International Monetary Fund (IMF) on Monday projected a growth rate of 7.3% in 2018 and 7.5% in 2019 for India as against 6.7% in 2017, making it the fastest growing country among major economies. However, the latest projectios for India is slightly less — 0.1 per cent in 2018 and 0.3 per cent in 2019 — than its April projections.

“India’s growth rate is expected to rise from 6.7% in 2017 to 7.3% in 2018 and 7.5% in 2019, as drags from the currency exchange initiative and the introduction of the goods and services tax fade,” said the IMF’s latest World Economic Outlook update. — PTI