The International Monetary Fund (IMF) said India is projected to grow at 7(point)4 per cent in 2018 as against China’s 6(point)8 per cent, making it the fastest growing country among the emerging economies.
Due to demonetisation and implementation of the Goods and Services Tax (GST), India’s economy slowed down a little bit to 6.7 per cent in 2016.
In 2017, India’s growth rate dropped to 6.7 per cent. In its latest World Economic Outlook update released yesterday in Davos, Switzerland on the sidelines of the World Economic Forum, the IMF has projected a 7.8 per cent growth rate for India in 2019.
China, during the same period is expected to grow at 6.6 per cent and 6.4 per cent, the IMF said.>