According to IMF, India will be the fastest-growing major economy in 2018, said media news report

The International Monetary Fund’s (IMF) Asia and Pacific Region Economic Outlook report said that India was recovering from effects of demonetisation and introduction of Goods and Services Tax, and it said the recovery is expected to be underpinned by a rebound from transitory shocks as well as robust private consumption, said media news report.

Reportedly the report said, medium-term consumer price index inflation is forecast to remain within but closer to upper bound of the Reserve Bank of India’s inflation-targeting band of four per-cent with a plus or minus two percent change.

The International Monetary Fund (IMF) reportedly reaffirmed that India will be the major economy in 2018, with a growth rate .4 percent that rises to 7.8 percent in 2019.

Overall, report said that Asia continues to be both the fastest the fastest-growing region in the world and the main engine of the world economy, said the media news report.

-AENNS – 09/05/2018