World Economic Outlook Update, July 2017

Question: According to the ‘World Economic Outlook Update, July 2017’ published by the International Monetary Fund on January 24th, 2017, growth rate of India for year 2017is estimated at…
(a) 7.1
(b) 7.2
(c) 7.7
(d) 7.4
Answer- (a)
Related facts:

• On July 24th, 2017, the International Monetary Fund (IMF) has published the World Economic Outlook Update, July 2017.
• According to this update, the global growth rate in year 2016 was 3.2 percent and it predicts global growth of 3.5% in 2017 and 3.6% in 2018.
• India’s growth rate in 2016 was 7.1 percent which is expected to remain at 7.2 percent in 2017 and 7.7 percent in 2018.
• India has the highest growth rate (7.1 percent) amongst BRICS countries in the year 2016 followed by China (6.7 percent), South Africa (0.3 percent), Russia (-0.2 percent) and Brazil (-3.6 percent).
• Indian economy is expected to grow faster than other major emerging economies.
• India growth rate will continue to grow faster than China in 2017 as well as 2018.
• The growth rate of China is expected at 6.7 per cent in 2017 and 6.4 per cent in 2018.
• The growth rate of advanced economies was estimated at 1.7% in 2016, which is forecasted to accelerate to 2.0% in 2017 and 1.9% in 2018.
• In these estimates, the growth rate of United States was estimated at 1.6 percent in 2016, which is expected to be 2.1 percent in 2017 and 2018.
• The growth rate in the euro area was estimated at 1.8% in 2016, which is estimated to be 1.9% in 2017 and 1.7% in 2018.
• The growth rate of Emerging Markets and Developing Economics was estimated at 4.3 percentin 2016, which is estimated to be 4.6 percent in 2017 and 4.8 percent in 2018.

Reference:
http://www.imf.org/external/mmedia/view.aspx?vid=5516540946001
http://www.imf.org/en/Publications/WEO/Issues/2017/07/07/world-economic-outlook-update-july-2017