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India leads emerging economies
India is projected to grow at 7.4% in 2018, making it the fastest growing country among emerging economies following last year’s slowdown due to demonetisation and the implementation of the Goods and Services Tax (GST).
Giving this projection, the International Monetary Fund also sees India growing at 7.8% next year in its World Economic Outlook (WEO) update released in Davos on 22 Jan 2018.
In 2016, the Indian economy grew by 7.1%, making it the fastest growing country among emerging economies.
But it slowed to 6.7% last year, taking in the hefty impact of demonetisation in November 2016 and implementation of the GST following that.
“India is reclaiming its place as a growth leader after a short slowdown,” said the IMF First Deputy Managing Director David Lipton at the Asian Financial Forum in Hong Kong on January 15. fii-news.com
