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IMF projects India to grow at 7.5% in 2015-16

By Religare
|

As per the forecast of International Monetary Fund, India is expected to grow at a rate of 7.5 per cent in 2015-16 and is expected to overtake China and become the fastest growing emerging economy, PTI reported.

As per PTI report, India's growth rate is expected to improve from 7.2 per cent in last fiscal to 7.5 per cent this year and next fiscal and China will see a deceleration with growth rate declining from 7.4 per cent in 2014 to 6.8 per cent in 2015 and 6.3 per cent a year after.

 

"India's growth is expected to strengthen from 7.2 per cent last year to 7.5 per cent this year and next. Growth will benefit from recent policy reforms, a consequent pick-up in investment, and lower oil prices," PTI quoted an IMF official as saying this.

IMF has improved India's growth projection for the current fiscal as well as next fiscal by 1.2 per cent and 1 per cent over its January projection. The positive projection for India by IMF comes at a time when other economies are not showing much improvement in economic performance.

Story first published: Wednesday, April 15, 2015, 23:00 [IST]
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