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Wednesday, 11 October 2017

IMF Trims India growth Forecast for Current Financial Year to 6.7 %

The International Monetary Fund (IMF) has trimmed India’s growth forecast for Financial Year 2017-18. In its latest World Economic Outlook released, the IMF lowered India’s growth forecast for 2017 to 6.7% from its earlier estimate of 7.2 percent.

As per IMF, India is expected to regain the fastest growing major economy tag next year when it is forecast to grow 7.4 per cent, slower than earlier estimate of 7.7 per cent but higher than China’s 6.5 per cent.

Important Takeaways from above News-
  • Created in 1945, the IMF is governed by and accountable to the 189 countries
  • IMF is Headquartered in Washington, D.C.
  • Managing Director of IMF is Christine Lagarde.

Source- The Economic Times

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