India’s GDP Annual Growth Rate | 2018 Forecast | An Overview

By Neeraj Mishra|Updated : July 30th, 2018

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 Bank7.3%7.5%
Asian Development Bank (ADB)7.3%7.6%
United Nation (UN)7.6%-
Fitch Ratings7.4%-
India Ratings and Research7.4% 
CRISIL7.5%-
Federation of Indian Chambers of Commerce and Industry (FICCI)7.5%-
Central Statistics Office (CSO)7.5%-
Nomura7.7%-
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. 

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  • 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.

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  • 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.

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  • 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%.

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  • 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.

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  • 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.

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  • 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.

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  • 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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