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India to grow at 7.4% in 2017-18: ADB
April 10, 2017
As the tides of the demonetization effect in India are ebbing the economy is expected to grow at the rate of 7.4% percent in the current fiscal and 7.6% in the next, as forecasted by the Asian Development Bank.
According to ADB:
- New financial reforms and the circulation of new banknotes are the reasons behind this potential rise of the economy.
- India’s economy growth will beat that of IMFs (International Monetary Fund) which it expects to grow at 7.2 % in 2017-18 and 7.7 % in the next financial year.
- China’s growth rate will drop as it will go from 6.7 % in 2016-17 to 6.5 % in 2017, and even lower at 6.2 % in 2018.
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