While addressing at Annual Meeting of IMF in Washington, IMF Chief, Christine Lagarde, brought back India’s confidence over the recent changes in country’s economic system.
Among all the debates on changes in Indian economy, Lagarde reshaped the status of forecast about India’s growth through her viewpoint. She stated that Indian economy is on very solid track in mid term. Further adding it she said ” it is a little bit of a short term slowdown”. Although GST and demonetisation lowered country’s growth presently to 6.7% in 2017 which is 0.5 percentage less than its forecast of April and July.
Further quoting her words “we have slightly downgraded India, but we believe that India is for the medium and long- term growth track”.
Her expectations on Indian economy is a turning point in every Indian mind during coming festive season. Let’s see how much her words are justified in coming future