India`s GDP trimmed to 7.4% |
The IMF has slightly trimmed India`s growth projections to 7.4 per cent for 2016 and 2017, a drop of 0.1 per cent from its previous forecast, attributing it to a more sluggish investment recovery while declaring Brexit as a "spanner" in the global economic recovery. It also said that Brexit has resulted in global economic uncertainty. The outcome of the UK vote, which surprised global financial markets, implies the materialisation of an important downside risk for the world economy. As a result, the global outlook for 2016-17 has worsened, despite the better-than- expected performance in early 2016, according to the World Economic Outlook. In 2015, the Indian economy grew at 7.6 per cent. With better monsoon this year, India as an agricultural country should see a good growth rate.
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