(BS)
The International Monetary Fund (IMF) has trimmed India’s growth projection by 0.1 percentage point for 2018-19 owing to high oil prices and a tight monetary policy regime. The effect of the twin headwinds on the IMF’s projection for 2019-20 was much sharper — 0.3 percentage points.
Now, the IMF has forecast India will grow by 7.3 per cent in 2018-19 against the earlier estimate of 7.4 per cent. The economy was projected to grow 7.8 per cent by 2019-20 by the Fund earlier, but now the projection stood at 7.5 per cent, according to the World Economic Outlook (WEO) Update, released on Monday. Even then, the economy would be the fastest-growing one among large nations in 2018-19 and 2019-20. India’s economy grew at a four-year-low of 6.7 per cent in 2017-18.
