International Monetary Fund (IMF), according to India's growth in 2016-17 is estimated at 6.6 per cent. According to the IMF Notbandi temporary constraints in the economy, the stress will be 6.6 per cent in 2016-17, India's growth rate. Although the IMF said in its annual report that the growth rate in the next few years will be more than 8 percent.
November 8, 2016 after the IMF said that the lack of liquidity and payment problems were underestimated and growth in consumption and business activities to maintain order and stood in front of a new challenge. The growth rate is estimated to be 7.2 per cent in 2017-18. The IMF has said that the lack of liquidity, especially private consumption growth will have on the immediate impact of barriers. The report states that the lack of liquidity would be favorable monsoon, lower oil prices and steady progress towards removing supply bottlenecks will support growth.
GST would be higher than the economic growth rate of 8 percent!
The IMF said that the introduction of GST, India's GDP growth may be higher than eight percent in the medium term. The movement of goods and services as well as better ways to help create a single national market. IMF said the GST will benefit more than expected and further growth and strengthen structural reforms.
According to the report, India's tax revenue-to-GDP ratio (17.5 percent) is lower than in other emerging markets. On the upside, given the increase of GST on priority basis should be implemented. It said that the GST would be a significant improvement in the current indirect tax system. Will continue to improve as well as the corporate tax rate from 30 percent to 25 percent in phases over four years will be brought. GST, which will contain the most current indirect tax excise, sales and service, thereby will make things easier.
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