India’s growth rate to be 7.7% in 2018, IMF presents golden picture

The International Monetary Fund (IMF) has presented a golden picture of India. According to him, the Indian economy is constantly getting better and in 2017 and 2018 it will get better. Significantly, the economy grew by 7.1% in 2016. But the IMF predicts that GDP growth will grow to 7.7% in 2018, which will generate a lot of employment opportunities in India.

In its latest World Economic Outlook (WOO) report on Monday, the International Monetary Fund (IMF) said, “India’s growth is expected to grow well in 2017 and 2018, as projected in April 2017.”

Good growth even after demonetisation
After demonetisation, it was expected that it might not lead to economy growth, but due to good spending and reforms by the government, the growth was 7.1%, quite good. In 2018, India will grow at the rate of 7.7 percent.IMF asks India to improve these things

However, the International Monetary Fund has also given a list of reforms that require full flow of cash after demonetisation, making labor and product markets flexible, expanding manufacturing base, employing more people and more.

In April, due to demonetisation, the IMF reduced India’s growth rate for 2017 by 0.4 percent to 7.2 percent. The IMF is forecasting a 3.5 percent global growth rate this year, which may be 3.6 percent in 2018.