Wait...
  1. Home >
  2. Export Import News >
  3. Economy News >
  4. India fastest growing economy at 7.4 percent in 2018: International Monetary Fund >
  5. India fastest growing economy at 7.4 percent in 2018: International Monetary Fund

Online Export Import Data Search

recentSearch
Complete Training Video : Click Here

India fastest growing economy at 7.4 percent in 2018: International Monetary Fund.


Date: 09-05-2018
Subject: India fastest growing economy at 7.4 percent in 2018: International Monetary Fund
UNITED NATIONS: The International Monetary Fund (IMF) reaffirmed on Wednesday that India will be the fastest-growing major economy in 2018, with a growth rate of 7.4 percent that rises to 7.8 percent in 2019 with medium-term prospects remaining positive.

The IMF's Asia and Pacific Regional Economic Outlook report said that India was recovering from the effects of demonetization and the introduction of the Goods and Services Tax and "the recovery is expected to be underpinned by a rebound from transitory shocks as well as robust private consumption."

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

However, it added a note of caution: "In India, given increased inflation pressure, monetary policy should maintain a tightening bias."

It said the consumer price increase in 2017 was 3.6 percent and projected it to be five percent in 2018 and 2019.

"The current account deficit in the fiscal year 2017-18 is expected to widen somewhat but should remain modest, financed by robust foreign direct investment inflows," the report said.

After India, Bangladesh is projected to be the fastest-growing economy in South Asia with growth rates of seven percent for 2018 and 2019; Sri Lanka is projected to grow at four percent in 2018 and 4.5 in 2019, and Nepal five percent in 2018 and four percent in next. (Pakistan, which is grouped with the Middle East, is not covered in the Asia report.)

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

The region contributes more than 60 percent of global growth and three-quarters of this comes from India and China, which is expected to grow 6.6 percent in 2018 and 6.4 percent in 2019, it said.

The report said that US President Donald Trump's fiscal stimulus is expected to support Asia's exports and investment.

The Asian region's growth rate was expected to be 5.6 percent for 2018 and 2019.

However, in the medium term, the report said that "downside risks dominate" for the region and these include a tightening of global financial conditions, a shift toward protectionist policies, and an increase in geopolitical tensions.

Because of these uncertainties, the IMF urged the countries in the region to follow conservative policies "aimed at building buffers and increasing resilience" and push ahead with structural reforms.

"While mobile payments are expanding sharply in such economies as Bangladesh, India, and the Philippines, on average Asia is lagging sub-Saharan Africa," the IMF said, adding that the region should take steps to ensure it is able to reap the full benefits of increasing digitalization in the global economy.

Source: newindianexpress.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 20-08-2019
Notification No. 36/2019 – Central Tax
Seeks to extend the date from which the facility of blocking and unblocking of e-way bill facility as per the provision of Rule 138E of CGST Rules, 2017 shall be brought into force to 21.11.2019.

Date: 19-08-2019
PUBLIC NOTICE No. 26/2015-2020
TRQ quota for import of 30,000 MT of crude soya oil from Paraguay under India- Mercosur Trade Agreement is notified.

Date: 16-08-2019
A.P. (DIR Series) Circular No. 06
Foreign Exchange Management (Deposit) (Amendment) Regulations, 2019 – Acceptance of Deposits by issue of Commercial Papers

Date: 14-08-2019
Notification No.60/2019 - Customs (N.T.)
Exchange Rates Notification No.60/2019-Custom(NT) dated 14.08.2019.

Date: 14-08-2019
Notification No. 61/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 14-08-2019
PUBLIC NOTICE NO. 25/2015-2020
Modification of Para 4.12(vi) of HBP and addition of Appendix 4P to Hand Book of Procedures 2015-20 – reg.

Date: 13-08-2019
Notification No.59/2019 - Customs (N.T.)
Exchange Rates Notification No.59/2019-Custom(NT) dated 13.08.2019.

Date: 13-08-2019
Instruction No. 03/2019-Customs
Recovery of Export benefits given under incentive and Reward Schemes under Chapter 3 of FTP on re-import of export goods.

Date: 10-08-2019
NOTIFICATION No. 32/2019-Customs (ADD)
Seeks to impose anti-dumping duty on imports of "Homopolymer of vinyl chloride monomer (suspension grade)" originating in or exported from China PR and USA for 30 months with effect from 13th August, 2019, in pursuance of SSR investigation by DGTR.

Date: 08-08-2019
Notification No. 57/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver.



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001