IMF revises growth forecast, India to grow at 7.7% in 2017-18
The Dollar Business Bureau The International Monetary Fund (IMF) said on Tuesday that the economic growth of India is likely to rebound to 7.2% in the current fiscal of 2017-18 and 7.7% in the next fiscal of 2018-19 after the disruptions caused due to demonetisation, whereas it recommends the elimination of long-standing structural bottlenecks to increase market efficiency. The disruptions (majorly to consumption in private sector) caused due to shortage of cash post demonetisation, accompanying the initiative on currency exchange are likely to slowly dissipate this year as shortage of cash would ease, the IMF said in its report on regional economic outlook. Such type of disruptions would also be dissipated on account of a good monsoon season and sustained progress in resolving ...
IMF retains India's GDP forecast at 7.5%
Source: PTI Retaining its 7.5 per cent GDP expansion forecast for India in 2016 and 2017, IMF today asked the government to cut down subsidies, initiate labour reforms and dismantle infrastructure bottlenecks to sustain strong growth. In its World Economic Outlook, the International Monetary Fund (IMF) said India should continue fiscal consolidation, underpinned by revenue reforms and further reduction in subsidies. "Sustaining strong growth over the medium term will require labour market reforms and dismantling of infrastructure bottlenecks, especially in the power sector," it said. In 2015, India's growth was 7.3 per cent, which would increase to 7.5 per cent in the next two years of 2016 and 2017, IMF had earlier forecast. Retaining its last forecast, IMF said, "With the revival of sentiment and ...
India to surpass Chinas economic growth rate in 2016: IMF
Sai Nikesh D | The Dollar Business Terming the newly formed Indian government- National Democratic Alliance’s (NDA) reforms as promising, the IMF report said that India’s growth rate is expected to grow at 6.3 per cent in 2015 and 6.5 per cent in 2016. With this increasing growth rate, India will likely cross China’s projected growth rate in 2016, the report said, insisting on the implementation of reforms as a key factor. “I think the reform plans of the new Prime Minister of India are promising. We are going to have to see the speed of the implementation,” said Gian Maria Milesi-Ferretti, Deputy Director, in IMF’s Research Department, according to the sources. Responding to a question, the IMF official ...
