## India: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India

_IMF Staff Country Reports, August 6, 2018_

## Source details

**Canonical URL:** [India: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India](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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## Bibliographic details
- Published: August 6, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484373125.002

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### Macroeconomic overview and growth outlook
- 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:
  - the November 2016 currency exchange initiative, and
  - the July 2017 goods and services tax rollout.
- 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.

### Inflation developments
- Headline inflation averaged 3.6 percent in FY2017/18, a 17-year low.
- Low headline inflation reflected:
  - low food prices on a return to normal monsoon rainfall,
  - agriculture sector reforms,
  - subdued domestic demand, and
  - currency appreciation.

### Key policy areas and thematic coverage
- 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.

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## Content in this bundle

- **Country Report**
  - [Country Report (Markdown version)](/-/media/files/publications/cr/2018/cr18254.pdf.md){rel="alternate" type="text/markdown"}
  - [Country Report (PDF)](/-/media/files/publications/cr/2018/cr18254.pdf){rel="external" type="application/pdf"}

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_Source: 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_