The International Monetary Fund today said India remains a key driver of global growth. However, the d World Economic Outlook forecast cut India’s GDP outlook one-tenth for this year to 7.3 per cent and three-tenths for next year to 7.5 per cent.
The IMF said, India will still retain its top spot in the global growth league.
It said India’s growth rate is expected to rise from 6.7 per cent in 2017 to 7.3 per cent in 2018 and 7.5 per cent in 2019, as drags from the currency exchange initiative and the introduction of the Goods and Services Tax fade.
IMF said the global economy is still expected to grow at a solid pace this year, but worsening trade confrontations pose serious risks to the outlook.
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