Indian economy remains a bright spot in global landscape

New Delhi: The Indian economy is growing strongly and remains a bright spot in the global landscape despite temporary setback due to demonetisation, as stated by the International Monetary Fund (IMF) in its annual country report on India. India is expected to grow at 6.6 per cent in 2016-17 and 7.2 per cent in 2017-18. The fall of global oil prices that began in late 2014 provided a major boost to the economic activity in India. The government has made significant progress on important economic reforms, which will support strong and sustainable growth going forward, and the implementation of the goods and services tax (GST) will help raise India’s medium-term growth to above 8 per cent.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.