The Indian economy is expected to grow at 7.4 per cent in the current fiscal and accelerate further to 7.8 per cent as it recovers from the impact of demonetisation and Goods and Services Tax (GST) rollout. Asia continues to be the main engine of the world’s economy, accounting for more than 60 per cent of global growth – three-quarters of which comes from China and India alone, as per IMF’s Regional Economic Outlook: Asia and Pacific (REO). Asia is expected to grow at 5.6 per cent this year and next, it said, adding that the outlook was supported by strong global demand, as well as still accommodative policies and financial conditions.

(The Hindu)