IMF raises India growth forecast to 5.4 pc in '09
International Monetary Fund raised India's growth forecast to 5.4 per cent for 2009 even as it projected the world economy to shrink by 1.4 per cent this year.
By PTI |
WASHINGTON: The International Monetary Fund on Wednesday raised India's growth forecast to 5.4 per cent for 2009 even as it projected the world economy to shrink by 1.4 per cent this year.
The multilateral lending agency in April forecast a growth rate of 4.5 per cent for the Indian economy in 2009.
In its update to the World Economic Outlook, IMF said the global economy will contract by 1.4 per cent this year. Earlier it had projected a growth rate of 1.3 per cent for the same.
India is expected to witness a growth rate of 5.4 per cent in 2009 while neighbouring Chinese economy would expand by 7.5 per cent during the same period. The forecast for China has been revised upwards from 6.5 per cent in April, it said.
"The global economy is beginning to pull out of a recession unprecedented in the post-World War II era, but stabilisation is uneven and the recovery is expected to be sluggish," IMF said.
According to the multilateral lending agency, growth projections in emerging Asia have been revised upward to 5.5 per cent in 2009 and 7 per cent in 2010.
The multilateral lending agency in April forecast a growth rate of 4.5 per cent for the Indian economy in 2009.
In its update to the World Economic Outlook, IMF said the global economy will contract by 1.4 per cent this year. Earlier it had projected a growth rate of 1.3 per cent for the same.
India is expected to witness a growth rate of 5.4 per cent in 2009 while neighbouring Chinese economy would expand by 7.5 per cent during the same period. The forecast for China has been revised upwards from 6.5 per cent in April, it said.
"The global economy is beginning to pull out of a recession unprecedented in the post-World War II era, but stabilisation is uneven and the recovery is expected to be sluggish," IMF said.
According to the multilateral lending agency, growth projections in emerging Asia have been revised upward to 5.5 per cent in 2009 and 7 per cent in 2010.
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