IMF has projected India’s GDP growth rate at 7.4% in 2018 and 7.8% in 2019, making it the fastest growing economy in the world. In its latest World Economic Outlook update released on Monday ahead of the World Economic Forum in Davos, the IMF projected India’s GDP growth rate at 7.4% in 2018 and 7.8% in 2019. In 2017, China’s GDP growth rate of 6.8% was ahead of India’s at 6.7%, giving the former the tag of being the fastest growing emerging economy. According to Maurice Obstfeld, IMF’s economic counsellor and director of research, India and Chin are predictably headed for slower growth. Earlier in January, a top IMF official said that India is reclaiming its place as global growth leader.

Source: Mint January 22, 2018 14:26 UTC