IMF forecasts over 7 pc growth for India

IMF forecasts over 7 pc growth for India

IMF forecasts over 7 pc growth for India

The International Monetary Fund (IMF), in its near-term macroeconomic outlook for India, has forecast growth to rise to 7.3 per cent in FY 2018/19 and 7.5 per cent in FY 2019/20, on strengthening investment and robust private consumption.

Headline inflation is projected to rise to 5.2 per cent in FY 2018/19, as demand conditions tighten, along with the recent depreciation of the rupee and higher oil prices, housing rent allowances and agricultural minimum support prices. Over the medium-term, the outlook will continue to improve with growth expected to rise to 7 per cent, with macro-financial and structural policies being the priorities to help boost inclusive growth and harness the demographic dividend, the IMF explained.

Manjula

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