With global economic recovery remaining on track on the back of better performing emerging economies, growth in India is expected to pick up further in 2017 and 2018, the IMF has said.
"Growth in India is forecast to pick up further in 2017 and 2018, in line with the April 2017 forecast," the International Monetary Fund (IMF) said in its latest World Economic Outlook (WEO) report on Monday.
"Pick-up in global growth anticipated in the April World Economic Outlook remain .. "While activity slowed following the currency exchange initiative, growth for 2016 -- at 7.1 per cent -- was higher than anticipated due to strong government spending and data revisions that show stronger momentum in the first part of the year," it said, referring to India's demonetisation measure as well as to the base year revisions in GDP calculations made by the Central Statistics Office.
(The Economic Times)
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