India to notch up to 7.5 % growth In 2016–17 : IMF

Posted on:13 Apr 2016 13:36:55

India to notch up to 7.5 % growth In 2016–17 : IMF
13 April 2016 Current Affairs:

International Monetary Fund (IMF) has declared the India's growth is projected to notch up to 7.5% in 2016-17.  And as per IMF prediction India will overtake the China's GDP by more than 1%. These growth in India is driven by private consumption as well as by increased industrial activity.In recent World Economic Outlook report IMF said that they are retaining India's last October forecast because recovery of private investment is expected to further strengthen growth. It also said that growth will continue to be driven by private consumption, which has benefited from lower energy prices and higher real incomes.The WEO report also stated that monetary conditions remain consistent with achieving the inflation target of 5 per cent in the first half of 2017, although an unfavorable monsoon and an expected public sector wage increase pose upside risks. It also made a way for Fiscal consolidation to continue underpinned by revenue reforms and further reductions in subsidies. The report also stated that in power sector Sustaining strong growth over the medium term will require labour market reforms and dismantling of infrastructure bottlenecks.




Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs May 2017

22 MAY
NEWS
20 MAY
NEWS
19 MAY
NEWS
18 MAY
NEWS

Current Affairs April 2017

29 APRIL
NEWS
28 APRIL
NEWS
27 APRIL
NEWS
26 APRIL
NEWS

Current Affairs March 2017

31 MARCH
NEWS
30 MARCH
NEWS
29 MARCH
NEWS
28 MARCH
NEWS