Question- What is the percentage of India’s growth rate as estimated for the year 2017 according to the World Economic Outlook Update, January 2018, published by the International Monetary Fund (IMF)?
(a) 7.1 percent
(b) 6.7 percent
(c) 7.4 percent
(d) 7.2 percent
- On January 22nd, 2018, the International Monetary Fund (IMF) published World Economic Outlook Update, January 2018.
- Global output is estimated to have grown by 3.7 percent in 2017, which is 0.1 percentage point faster than projected in the fall and ½ percentage points higher than in 2016.
- Global growth forecasts for 2018 and 2019 have been revised upward by 0.2 percentage point to 3.9 percent.
- In this report, India’s growth rate has been pegged at 6.7% in the year 2017.
- While, it is estimated to be 7.4 percent in 2018 and 7.8 percent in 2019.
- In BRICS countries, the highest growth rate of 7.4% in 2018 and 7.8% in 2019 has been estimated for India.
- India is followed by China (6.6% and 6.4%), Russia (1.7% and 1.5%), Brazil (1.9% and 2.1%) and South Africa (0.9%) respective year of 2018-2019.
- Indian economy is expected to grow faster than other major emerging economies.
- The growth rate of advanced economies has been estimated at 2.3 percent in 2017, which is estimated to be 2.3 percent in 2018 and 2.2 percent in the year 2018-2019.
- According to the Reports, the US growth rate is estimated to be 2.3 percent in 2017, which is estimated to be 2.7 percent in 2018 and 2.5 percent in 2019.
- The euro zone’s growth rate has been pegged at 2.4 percent in 2017, which is estimated to be 2.2 percent in 2018 and 2.0 percent in 2019.
- The growth rate of emerging markets and developing economies has been estimated at 4.7 percent in 2017, which is estimated to be 4.9 percent in 2018 and 5.0 percent in 2019.