India’s GDP is poised to grow by 7.3 per cent in the 2018-19 fiscal and 7.5 per cent in 2019-2020 on strengthening of investment and robust private consumption, the IMF said in its latest projection.
The International Monetary Fund (IMF), in the report published on Tuesday, said the near-term macroeconomic outlook for India is “broadly favourable.”
Growth is forecast to rise to 7.3 per cent in fiscal year 2018/19 and 7.5 per cent in 2019/20 on strengthening investment and robust private consumption, it said.
Headline inflation is projected to rise to 5.2 per cent in 2018/19, as demand conditions tighten, along with the recent depreciation of the rupee and higher oil prices, housing rent allowances and agricultural MSP, it added.