India to lose fastest-growing economy tag? IMF, ADB slash growth forecast

The World Bank reduced its FY18 India growth estimate to 7% from 7.2% earlier; IMF projected India would growth at 6.7%

Demonetisation and Goods and Services Tax (GST) seem set to hamper India's growth in 2017-18. The International Monetary Fund (IMF) is the latest to trim its 2017-18 economic growth forecast for India. Even as IMF raised its economic growth projections for most major economies, it did the opposite for India. Also, its projection of 6.7 per cent growth for India is lower the 6.8 per cent for China. That means, IMF sees India losing its tag of the fastest-growing major economy.

“The growth projection for 2017-18 has been revised down to 6.7 per cent, reflecting still lingering disruptions associated with