The IMF has said that the Indian economy is in fairly good shape, and it is likely to be less affected than other emerging economies if there is a further shock to the global economy. Paul A Cashin, Assistant Director in the IMF's Asia & Pacific Department, and mission chief of India, said this is because India has an inward domestically demand-oriented economy. The International Monetary Fund had, earlier this week, in its annual report, forecast India's growth to slow to 6.6 per cent in the 2016-17 fiscal due to temporary disruptions caused by demonetisation. But the IMF added that economic growth will bounce back to its expected growth of more than 8 per cent in the next few years. Cashin also said India is in a much better fiscal position than it was, and also much better in terms of its monetary framework and monetary policy.