• Thursday, December 08, 2022

Business

India to grow at 7.7 per cent in 2018-19, says IMF

Demonetisation has caused disruptions to India’s growth

By: Sarwar Alam

India’s growth is expected to rebound to 7.2 per cent in the 2017–18 fiscal and 7.7 per cent in 2018-19 after “disruptions” caused by demonetisation, the IMF said today, while recommending removal of long-standing “structural bottlenecks” to enhance market efficiency. The temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative are expected to gradually dissipate in 2017 as cash shortages ease, the International Monetary Fund said in its regional economic outlook. Such disruptions would also be offset by tailwinds from a favourable monsoon season and continued progress in resolving supply-side bottlenecks, the IMF said.…

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