As per the IMF’s latest report, India is projected to grow at 7.3% in 2018 and 7.4% in 2019. The report predicted India to regain the tag of the world’s fastest-growing major economy this year, crossing China with more than 0.7 percentage points. In China, growth is projected to moderate from 6.9 per cent in 2017 to 6.6% in 2018 and 6.2 % in 2019.
In 2017, India had clocked a 6.7% growth rate. In India, important reforms have been implemented in recent years, including the Goods and Services Tax (GST), the inflation-targeting framework, the Insolvency and Bankruptcy Code, and steps to liberalise foreign investment and make it easier to do business, the International Monetary Fund (IMF) said in its latest World Economic Outlook (WEO) report.
Source- AIR World Service
Static/Current Takeaways Important for IBPS PO Mains Exam 2018-
- Managing Director of International Monetary Fund- Christine Lagarde, Headquarters in- Washington DC, USA.