Saturday, Aug 08, 2020 | Last Update : 06:24 AM IST

136th Day Of Lockdown

Maharashtra49026232728117092 Tamil Nadu2850242275754690 Andhra Pradesh2069601204641842 Karnataka164924842322998 Delhi1427231282324082 Uttar Pradesh113378668341981 West Bengal89666630601954 Telangana7525753239601 Bihar7179446294400 Gujarat68855517922604 Assam5549737225132 Rajasthan4941835186763 Odisha4255028698292 Haryana4005433444467 Madhya Pradesh3729827621962 Kerala3170019147103 Jammu and Kashmir2392716218449 Punjab1901512491462 Jharkhand140705199129 Chhatisgarh10109761369 Uttarakhand8008484795 Goa7075511460 Tripura5520367528 Puducherry4147253758 Manipur301818147 Himachal Pradesh2879171013 Nagaland24056594 Arunachal Pradesh179011053 Chandigarh120671520 Meghalaya9173305 Sikkim7832971 Mizoram5022820
  Business   In Other News  17 Jul 2018  IMF slashes India's growth prediction to 7.3 per cent for 2018

IMF slashes India's growth prediction to 7.3 per cent for 2018

ANI
Published : Jul 17, 2018, 10:48 am IST
Updated : Jul 17, 2018, 10:48 am IST

Further, the international financial organisation forecasted a rate of growth of 7.8 per cent for 2019.

The International Monetary Fund on Monday slashed India's growth rate prediction to 7.3 per cent for 2018 and 7.5 per cent for 2019.
 The International Monetary Fund on Monday slashed India's growth rate prediction to 7.3 per cent for 2018 and 7.5 per cent for 2019.

New Delhi: The International Monetary Fund on Monday slashed India's growth rate prediction to 7.3 per cent for 2018 and 7.5 per cent for 2019. In its latest World Economic Outlook (WEO), the IMF noted that the reduction in growth predictions was due to the negative impact of the recent hike in oil prices, coupled with a modification of the monetary policy due to soaring inflation rates.

"The projection is 0.1 and 0.3 percentage points lower for 2018 and 2019, respectively, than in the April WEO, reflecting negative effects of higher oil prices on domestic demand and faster than-anticipated monetary policy tightening due to higher expected inflation," it said.

 

In April this year, the IMF said that it expects India to re-emerge as one of the fastest growing major economies in the 2018 - 2019 period, projecting the country's growth rate at 7.4 per cent in 2018.

Further, the international financial organisation forecasted a rate of growth of 7.8 per cent for 2019. It explained that the increase is mainly due to the strong private consumption, as well as fading transitory effects of demonetisation and implementation of the national Goods and Services Tax (GST).

Tags: international monetary fund, world economic outlook, growth rate, oil prices
Location: India, Delhi, New Delhi