IMF expects India’s economy to grow at 7.4% in 2018

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Washington, April 17 (IANS) The International Monetary Fund (IMF) on Tuesday said that it expects India’s economy to grow at 7.4 per cent in 2018 from a rise of 6.7 per cent in 2017.

According to the IMF’s World Economic Outlook (WEO), the country’s economic growth is expected to be 7.8 per cent in 2019.

As per the report, 2018’s economic growth will be pushed higher by “strong private consumption as well as fading transitory effects of the currency exchange initiative and implementation of the national goods and services tax.”

“Over the medium term, growth is expected to gradually rise with continued implementation of structural reforms that raise productivity and incentivise private investment,” the report read.

–IANS

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