India: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India
August 6, 2018
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This 2018 Article IV Consultation highlights that stability-oriented macroeconomic policies and progress on structural reforms continue to bear fruit in India. Following disruptions related to the November 2016 currency exchange initiative and the July 2017 goods and services tax rollout, growth slowed to 6.7 percent in FY2017/18, but a recovery is under way led by an investment pickup. Headline inflation averaged 3.6 percent in FY2017/18, a 17-year low, reflecting low food prices on a return to normal monsoon rainfall, agriculture sector reforms, subdued domestic demand, and currency appreciation. Growth is forecast to rise to 7.3 percent in FY2018/19 and 7.5 percent in FY2019/20, on strengthening investment and robust private consumption.
Subject: Balance of payments, Banking, Foreign direct investment, Inflation, Labor, Prices, Public debt, Revenue administration, Taxes, Value-added tax
Keywords: CR, debt, Eastern Europe, Foreign direct investment, Global, government, government approval, gross investment, headline inflation, household inflation expectation, IMF's transparency policy, India, Inflation, ISCR, medium-term headline inflation, U.S. dollar, upside inflation risk, Value-added tax
Pages:
82
Volume:
2018
DOI:
Issue:
254
Series:
Country Report No. 2018/254
Stock No:
1INDEA2018003
ISBN:
9781484373125
ISSN:
1934-7685
