The International Monetary Fund (IMF) sees Indian economic growth rebounding to around 7 per cent in the next financial year, supported by measures like monetary policy stimulus and corporate income tax cuts.
“We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline,” Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.
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The recent tax cuts, government’s progress in addressing lingering weaknesses in the financial sector and measures to support growth sectors as seen as factors underpinning growth in the near term, Ostry said.
Source: Economic Times
