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IMF forecasts India’s GDP to grow at 7.3% in current fiscal

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New Delhi: The International Monetary Fund says India’s GDP is poised to grow by 7.3 per cent in the 2018-19 fiscal and 7.5 per cent in 2019-20 on strengthening of investment and robust private consumption.

IMF, in its latest projection, said the near-term macroeconomic outlook for India is broadly favourable.

It said, headline inflation is projected to rise to 5.2 per cent in the fiscal year 2018-19, as demand conditions tighten, along with the recent depreciation of the rupee and higher oil prices, housing rent allowances and agricultural minimum support prices.

IMF Executive Board Directors welcomed the strong economic growth and commended the Indian authorities for the important and wide-ranging reforms.

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