India’s GDP Annual Growth Rate | 2018 Forecast | An Overview
By BYJU'S Exam Prep
Updated on: September 25th, 2023
India’s GDP Growth Rate Projected by Different Organizations 2018
| Organisations | India’s GDP Predictions (2018-19) | India’s GDP Predictions (2019-20) |
| Reserve Bank of India (RBI) | 7.4% | – |
| International Monetary Fund (IMF) | 7.3% | 7.5% |
| World Bank | 7.3% | 7.5% |
| Asian Development Bank (ADB) | 7.3% | 7.6% |
| United Nation (UN) | 7.6% | – |
| Fitch Ratings | 7.4% | – |
| India Ratings and Research | 7.4% | |
| CRISIL | 7.5% | – |
| Federation of Indian Chambers of Commerce and Industry (FICCI) | 7.5% | – |
| Central Statistics Office (CSO) | 7.5% | – |
| Nomura | 7.7% | – |
| Organisation for Economic Cooperation and Development (OECD) | 7.4% | 7.5% |
1. The Reserve Bank of India (RBI) in its Second Bi-monthly Monetary Policy Statement (06th June 2018) projected India’s GDP (gross domestic product) growth rate of 7.4% for 2018-19.
- RBI Governor – Dr Urjit Patel.
- RBI headquarter – Mumbai, India.
2. International Monetary Fund (IMF) in its World Economic Outlook survey projected India’s GDP growth rate to 7.3% in 2018-19 and 7.5% in 2019-20.
Note:
i. IMF projected India’s GDP growth rate at 7.3% in 2018-19.
- IMF Chief – Christine Lagarde
- IMF headquarter – Washington, D.C. (US)
3. World Bank in its Global Economic Prospects report projected India’s GDP growth rate to 7.3% in 2018 -19.
Note:
i. World Bank projected India’s GDP growth rate at 7.3% in 2018-19.
ii. World Bank projected India’s GDP growth rate at 7.5% in 2019-20.
- World Bank President – Jim Yong Kim
- World Bank headquarter – Washington, D.C. (US)
- Members countries – 189
4. Asian Development Bank (ADB) projected India’s GDP growth forecast to 7.3% in 2018-19 from its July forecast of 7.4%.
- ADB President: Takehiko Nakao
- ADB headquarter – Mandaluyong, Philippines
- Members countries – 67
5. United Nation (UN) in its World Economic Situation and Prospects report projected India’s GDP growth rate at 7.6% in 2018-19.
Note:
i. UN projected India’s GDP growth rate at 7.6% in 2018-19.
- UN Secretary‑General – António Guterres
- UN headquarter – New York, US
- Members countries – 193
6. The credit rating agency Fitch Ratings has projected India’s GDP forecast to 7.4% for 2018-19.
- Fitch CEO – Paul Taylor
- Fitch Ratings headquarter – New York, US
7. India Ratings and Research had projected India’s GDP growth forecast to 7.4% in 2018-19.
- India Ratings and Research MD & CEO – Rohit Sawhney.
- India Ratings and Research headquarter – Mumbai, Maharashtra
8. Domestic rating agency CRISIL had projected India’s GDP growth forecast to 7.5% in 2018-19.
- CRISIL MD & CEO – Ashu Suyash
- CRISIL headquarter – Mumbai, Maharashtra
9. Federation of Indian Chambers of Commerce and Industry (FICCI) projected India’s GDP growth rate to 7.5% in 2018-19.
- FICCI President – Rashesh Shah
- FICCI headquarter – New Delhi, India
10. The Central Statistics Office (CSO) estimated India’s GDP growth forecast to 7.5% in 2018-19.
- CSO Director General – Rajeev Lochan
- CSO headquarter – New Delhi, India
11. Japanese financial holding company Nomura projected India’s GDP growth to be around 7.7% in 2018-19.
- Nomura CEO – Koji Nagai
- Nomura headquarter – Minato, Tokyo, Japan
12. Organisation for Economic Cooperation and Development (OECD) revised India’s GDP growth rate at 7.4% in 2018-19.
Note: OECD projected India’s GDP growth rate at 7.4% in 2018-19.
- OECD Secretary-General: José Ángel Gurría Treviño
- OECD headquarter – Paris, France
- Member countries – 35
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