UNITED NATIONS, Jan 21 - The International Monetary Fund�s (IMF) World Economic Outlook Update released by chief economist Gita Gopinath on Monday said that India�s economy is expected to grow by 7.5 per cent in the 2019-20 fiscal year, keeping an upward trajectory as the rest of the world slumps.
India will continue to be the world�s fastest growing major economy, the report said.
The IMF�s flagship report said that India�s growth was estimated to be 7.3 per cent for the current fiscal year and forecast to rise to 7.7 per cent in 2020-21.
�India�s economy is poised to pick up in 2019, benefiting from lower oil prices and a slower pace of monetary tightening than previously expected, as inflation pressures ease,� the report said.
At the launch of the report in Davos, Switzerland, Gopinath said: �The global expansion is weakening and at a rate that is somewhat faster than expected.� She said the update projects global growth at 3.5 per cent in 2019 and 3.6 per cent in 2020. � IANS
