International Monetary Fund (IMF) has named India as the fastest growing economy in the world as the current economic growth of 7.4% will be increased to 7.8% in 2019. IMF has released their new report in the organization's Asia, Pacific regional economic outlook report.
The report also states that India gradually overcoming the worst effects of demonetisation and GST that simultaneously pulled back the growth of Indian economy. The IMF also credited Asia as the most significant "engine" of the world economic system and the continent became the fastest growing region in the world.
60% of the global growth comes from Asia and among that India and China contributes a sizeable part. The report includes a new entrant as Bangladesh earned a reputation of having the fastest growing economic system behind India. Bangladesh will post a 7% growth in this year and in the next year as well.
