What is the India’s growth forecast for FY17, as per recently released IMF’s World Economic Outlook (WEO) report?

As per latest revised edition of World Economic Outlook (WEO) report of International Monetary Fund (IMF), India’s GDP growth forecast has been raised by 0.2 % to 7.6 % for FY17 (2016-17 ) and FY18 (2017-18). According to report, India’s economy continued to recover strongly, benefiting from a large improvement in the terms of trade, effective policy actions and stronger external buffers, which have helped boost sentiment. Beside this, the report has also higlighted that the Indian government must have to continue to reform its tax system and eliminate subsidies to provide more resources for investments in infrastructure, education and healthcare.