India going to be significantly less impacted by global economic unexpected surprises, says The International Monetary Fund
The International Monetary Fund (IMF) has stated that the Indian overall economy is in realistically very good condition, and it’s also most likely to be significantly less impacted than other emerging economies if there is an additional shock to the global economic climate.
Paul A Cashin, Assistant Director in the IMF’s Asia & Pacific Department, and mission chief of India, stated this is because India has an inward domestically demand-oriented economy.
The International Monetary Fund in its recent report had believed that India’s growth to slow to 6.6 per cent in the 2016-17 fiscal due to temporary distractions triggered by demonetisation project.
Nevertheless the IMF added that economic growth will bounce back to its envisioned growth of more than 8 per cent over the following years.
Paul A Cashin furthermore stated India is in a far greater fiscal position than it had been, and also much better in terms of its monetary framework and Monetary Policy.
