What is the India’s GDP growth forecast rate for FY 17, as per updated “World Economic Outlook (WEO)” report of International Monetary Fund (IMF)?
What is the India’s GDP growth forecast rate for FY 17, as per updated “World Economic Outlook (WEO)” report of International Monetary Fund (IMF)?
[A]6.6%
[B]7.1%
[C]6.2%
[D]6.5%
6.6%
The International Monetary Fund (IMF) has downgraded India’s GDP growth forecast for FY 17 to 6.6% against its earlier estimate of 7.6% currencies in its updated flagship publication “World Economic Outlook (WEO)” due to Indian government’s move to demonetize high-value currencies. Apart from this, in the updated WEO report, the IMF has expected India’s growth rate at 7.2% in 2017-18 and 7.7% in 2018-19. The report stated that India’s GDP growth forecast downgraded due to the temporary negative consumption shock induced by cash shortages and payment disruptions associated with the recent currency note withdrawal and exchange initiative.