WASHINGTON: India is expected to grow at 7.4 per cent in 2018 and 7.8 per cent in 2019, leaving its nearest rival China behind respectively at 6.6 and 6.4 per cent in the two years, the IMF said today.
With growth picking up after falling sharply in the second quarter of 2017 due to “one-off factors”, India in 2018 and 2019 would re-emerge as one of the fastest growing major economies, it said.
The International Monetary Fund (IMF) in the latest World Economic Outlook (WEO) has projected India to grow at 7.4 per cent in 2018 and 7.8 per cent in 2019.
China is expected to grow respectively at 6.6 and 6.4 per cent in the two years.
However, the latest IMF growth rate projection remains unchanged since the last one in October.
India’s growth rate in 2016 was 7.1 per cent as against China’s 6.7 per cent. Two major economic reforms – demonetisation and goods and services tax (GST) – resulted in a slight lower growth rate of 6.7 per cent in 2017. (AGENCIES)
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