The International Monetary Fund (IMF) has upheld the growth rate for India in 2018. But in the year 2019, a slight reduction has been made. At the same time, the IMF has cut more in China’s growth rate. According to the International Monitoring Fund, India’s growth rate is 7.3 percent in 2018 and 7.4 percent in 2019. China’s growth rate is 6.6 Percent and 6.2 percent in 2019 For this, China has also banned the Chinese product from the US. According to the Economic Outlook Report released by the International Monitoring Fund, India is expected to maintain the fast growth rate. What is interesting is that before this, the IMF had issued World Economic Report in April. According to which the rate of growth in the year 2018 was fixed 7.3 and in 2019 it was fixed 7.5. However, there is a slight reduction in this now. Estimate of 2017 is expected to be much better than 6.7. Crude oil prices are considered to be the reason for the global reduction in the IMF estimates.
IMF predicts 7.3 % growth rate for India in the current fiscal year
In its report, the IMF has also expressed concern over the impact of the American sanctions in the shadow of a trade war on China. According to the IMF, US restrictions can stave off China’s pace. The agency maintained China’s growth rate of 6.6 percent for the year 2018. But there has been a slight reduction in the growth rate of 2019. The IMF has reduced the growth rate of 2019 from 6.4 to 6.2.
Countries with their public finances in order face shorter and less severe recessions #PublicWealth #FiscalMonitor https://t.co/RPHwbcasPi pic.twitter.com/FwUteXLrwZ
— IMF (@IMFNews) October 10, 2018
The report said that a decline of 0.2 percent of China’s growth rate in 2019 will have a negative impact on its image. The United States growth rate is 2.9 percent for 2018 and 2.5 percent for 2019. In the case of India, the report says that there have been significant changes in recent years, including things like GST, a framework for targeting inflation, insolvency, and foreign investment.
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