{
  "title": "India: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India",
  "publication": "IMF Staff Country Reports, August 6, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/08/06/india-2018-article-iv-consultation-press-release-staff-report-and-statement-by-the-executive-46155",
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  "summary": "This 2018 Article IV Consultation highlights that stability-oriented macroeconomic policies and progress on structural reforms continue to bear fruit in India.",
  "sections": [
    {
      "heading": "Macroeconomic overview and growth outlook",
      "content": "- Stability-oriented macroeconomic policies and progress on structural reforms \"continue to bear fruit in India.\"\n- Growth slowed to 6.7 percent in FY2017/18, following disruptions related to:\n  - the November 2016 currency exchange initiative, and\n  - the July 2017 goods and services tax rollout.\n- A recovery is under way led by an investment pickup.\n- 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."
    },
    {
      "heading": "Inflation developments",
      "content": "- Headline inflation averaged 3.6 percent in FY2017/18, a 17-year low.\n- Low headline inflation reflected:\n  - low food prices on a return to normal monsoon rainfall,\n  - agriculture sector reforms,\n  - subdued domestic demand, and\n  - currency appreciation."
    },
    {
      "heading": "Key policy areas and thematic coverage",
      "content": "- Subject coverage includes: Balance of payments; Banking; Foreign direct investment; Inflation; Labor; Prices; Public debt; Revenue administration; Taxes; Value-added tax.\n- Keywords highlighted: 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.\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 6, 2018",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484373125.002",
    "Stability-oriented macroeconomic policies and progress on structural reforms \"continue to bear fruit in India.\"",
    "Growth slowed to 6.7 percent in FY2017/18, following disruptions related to:",
    "A recovery is under way led by an investment pickup.",
    "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.",
    "Headline inflation averaged 3.6 percent in FY2017/18, a 17-year low.",
    "Low headline inflation reflected:",
    "Subject coverage includes: Balance of payments; Banking; Foreign direct investment; Inflation; Labor; Prices; Public debt; Revenue administration; Taxes; Value-added tax.",
    "Keywords highlighted: 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.",
    "**Country Report**"
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