Ahead of World Economic Forum, IMF pegs India’s growth at 7.4 per cent in 2018

India was the fastest growing country among emerging economies in the year 2016. But due to the demonetisation in late 2016 and implementation of the Goods and Services Tax (GST), India’s economy slowed down a little bit to 6.7 per cent in 2016.

By: Express Web Desk | Washington | Updated: January 22, 2018 9:17 pm

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“Growth is expected to moderate gradually in China (though with a slight upward revision to the forecast for 2018 and 2019 relative to the fall forecasts, reflecting stronger external demand), pick up in India, and remain broadly stable in the ASEAN-5 region,” the IMF said. (Representational Image)

The International Monetary Fund has projected India’s growth at 7.4 per cent in 2018 as against China’s 6.8 per cent, making it the fastest growing country among emerging economies following last year’s slowdown due to demonetisation and the implementation of the GST. This comes a day before Prime Minister Narendra Modi’s address at the SWorld Economic Forum in Davos. In its latest World Economic Outlook (WEO) update released on Monday, the IMF has projected a 7.8 per cent growth rate for India in 2019.