The IMF has cut the GDP growth forecast of India for the current fiscal year to 6.6 percent from its previous estimate of 7.6 percent citing the “temporary negative consumption shock” of demonetisation announced by Prime Minister Narendra Modi on 8 November.
India had been projected to grow about 7.0-7.5% each year through 2018. However, India could easily remain at 6% GDP growth.
Without stronger growth then over 20-30 years, India would be about the level of Indonesia but with a larger population.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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