United Nations World Economic Situation and Prospects (WESP) 2017 report:
- India’s economy is projected to grow by 7.7% in fiscal 2017 and 7.6% in 2018
- India will remain the fastest growing large developing economy due to its strong private consumption and gradual introduction of significant domestic reforms.
- However, low capacity utilisation and stressed balance sheets of banks and businesses will prevent a strong investment revival in the short term
IMF:
- IMF had cut India’s growth rate for FY2017 to 6.6% from its previous estimate of 7.6% due to the “temporary negative consumption shock” of demonetisation.
World Bank:
- WB decelerated India’s GDP growth for 2016-17 fiscal to 7% from its previous estimate of 7.6% citing the impact of demonetisation.
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