India fastest growing major economy in 2016-17 at 7.5% – IMF

WASHINGTON: India continues to remain a bright spot in the otherwise bleak global economic forecast of the International Monetary Fund (IMF). India will be the fastest growing major economy in 2016-17 growing at 7.5 percent, ahead of China, at a time when global growth is facing increasing downside risks, as per the World Economic outlook released by the IMF.

The April 2016 World Economic outlook titled “Too slow for too long” retained India's growth forecast while lowering global growth projections pointing out that volatility in financial markets and non-economic risks posed by migration and terrorism are increasing risks of a derailed recovery.