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India's Economy Expected To Clock Growth Of 7.3% In 2018 Says IMF

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India's growth is expected to increase to 7.3% in 2018 and to 7.4% in 2019 (slightly lower than in the April 2018 (WEO) for 2019, given the recent increase in and the tightening of global financial conditions), up from 6.7% in 2017, the (IMF) said in its latest report. This acceleration reflected a rebound from transitory shocks (the currency exchange initiative and implementation of the national Goods and Services Tax), with strengthening investment and robust private consumption.

India's medium-term growth prospects remain strong at 7.75%, benefiting from ongoing structural reform, but have been marked down by just under 50 percentage point relative to the April 2018 WEO, the fund noted. If projections are true, then would likely retain the tag of fastest growing major economies of the world.

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First Published: Tue, October 09 2018. 12:34 IST