The International Monetary Fund has predicted India to grow at 7.7% in 2018-2019.
- India’s growth is expected to 7.2 per cent in the 2017-18 fiscal year.
- The main challenge before the Indian economy will be to improve agricultural productivity.
- According to the report, Asia will see a rise in growth from 5.3% in 2016 to 5.5% in 2017.
- India is one of the countries that have excellently performing reforms.
- It is one of the major reasons for the country to maintain one of the highest economic growth rates in the world.
- IMF suggested the removal of long-standing structural bottlenecks to enhance market efficiency.
- A favourable monsoon will also help to improve the growth rate.
- Farmers require more flexibility in distributing and marketing their crops.
- It will help to improve competitiveness, efficiency, and transparency.
- IMF was established in 7th July 1944.
- Headquarter Washington D.C. United States.
- Managing Director is Christine Lagarde
- Total countries in IMF is 189 countries.
- It helps in working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.