Indian economy on very solid track in mid-term says IMF | Current Affairs, Current Affairs 2017

Indian economy on very solid track in mid-term says IMF

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Appreciating the Central government on the recent reforms International Monetary Fund has said Indian economy was on a “very solid track” in the mid term, days after the International Monetary Fund.
Speaking at the conference, IMF Chief Christine Lagarde said, ‘Turning to India…we have slightly downgraded India; but we believe that India is for the medium and long-term on a growth track that is much more solid as a result of the structural reforms that have been conducted in the last couple of years. But for the medium term, we see a very solid track ahead for the Indian economy,” she said.
The IMF last week lowered India’s growth projection to 6.7% in 2017, 0.5 percentage points less than its previous two forecasts in April and July, attributing it to demonetisation and introduction of the GST.
It also lowered the country’s growth for 2018 to 7.4%, 0.3 percentage points less than its previous two projections in July and April. India’s growth rate in 2016 was 7.1%, which saw an upward revision of 0.3 percentage points from its April report.

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