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      Question

      The International Monetary

      Fund’s (IMF) July World Economic Outlook Update retained India’s projected GDP growth rate for 2017-18 at 7.2%, and at 7.7% for 2018-19. The IMF added that while activity slowed following demonetisation, growth for 2016-17 was higher than anticipated on the back of government spending and stronger momentum in the first part of that year, as revealed by data revisions. _______________________. “While activity slowed following the currency exchange initiative [demonetisation], growth for 2016 — at 7.1% — was higher than anticipated due to strong government spending and data revisions that show stronger momentum in the first part of the year.” The IMF had in April update had projected GDP growth in India at 7.2% and 7.7% in the financial years 2017-18 and 2018-19, respectively. The July update retained those projections. In each of the following question a short passage is given with one of the lines in the passage missing and represented by a blank. Select the best out of the five choices given to make the passage complete and coherent (Coherent means logically complete and sound)
      A "Growth in India is forecast to pick up further in 2017 and 2018, in line with the April 2017 forecast,” the IMF said. Correct Answer Incorrect Answer
      B This trend is in keeping with the global growth trend. Correct Answer Incorrect Answer
      C The pickup in global growth anticipated in the April World Economic Outlook remains on track, with global output projected to grow by 3.5% in 2017 and 3.6% in 2018. Correct Answer Incorrect Answer
      D The unchanged global growth projections mask somewhat different contributions at the country level. Correct Answer Incorrect Answer
      E Inflation in advanced economies remains subdued and generally below targets. Correct Answer Incorrect Answer

      Solution

      The International Monetary Fund’s (IMF) July World Economic Outlook Update retained India’s projected GDP growth rate for 2017-18 at 7.2%, and at 7.7% for 2018-19. The IMF added that while activity slowed following demonetisation, growth for 2016-17 was higher than anticipated on the back of government spending and stronger momentum in the first part of that year, as revealed by data revisions. “Growth in India is forecast to pick up further in 2017 and 2018, in line with the April 2017 forecast,” the IMF said. “While activity slowed following the currency exchange initiative [demonetisation], growth for 2016 — at 7.1% — was higher than anticipated due to strong government spending and data revisions that show stronger momentum in the first part of the year.” The IMF had in April update had projected GDP growth in India at 7.2% and 7.7% in the financial years 2017-18 and 2018-19, respectively. The July update retained those projections.

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