IMF has retained growth forecast at 7.5 percent

Q.  IMF has retained the growth forecast for India at ___ percent driven largely by private consumption.
- Published on 04 May 16

a. 7.4 percent
b. 7.5 percent
c. 7.6 percent
d. 7.7 percent

ANSWER: 7.5 percent
 
International Monetary Fund has retained growth forecast for India at 7.5 percent driven mostly by private consumption even as sluggish credit growth and weak exports impact the economy. India’s growth momentum is driven by private consumption benefiting from low energy prices and higher real incomes.
  • IMF has said policy makers will speed up structural reform implementation- weak exports and sluggish credit growth stand in the way
  • Additional steps in relaxing bottlenecks especially in mining and labour market reforms will increase labour market flexibility and foster inclusive growth.
  • As per IMF, growth in Asia and Pacific will remain strong at 5.3 percent this year

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