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IMF Report 2018: India emerges as the fastest growing economy with 7.4% growth rate
International Monetary Fund (IMF) forecasts India as the fastest growing economy in the world, Report Details, Estimations
The International Monetary Fund (IMF) has said that if the estimation is correct then India will again be the fastest growing economy in the world.
The IMF has projected India's growth rate of 7.3% for the year 2018, while the estimate for the financial year 2019 is 7.4%.
In the financial year 2017, India's growth rate was 6.7%. IMF has said in the latest World Economic Outlook report that India's growth rate is expected to be 7.3% in 2018 and it will be 7.4% in 2019.
However, it is slightly below the World Economic Outlook report for the year 2019 in April 2018. In recent times, the IMF will rise above the rate of crude oil prices and 6.7% of the year 2017, despite the global economy.
India's medium-term growth is strong and it is at 7 %. In this strength, the ongoing structural reforms have a major role to play. The IMF has said that if the estimation is correct then India will again be the fastest growing economy in the world.
