India likely to post 4.6 pc growth in 2013-14: IMF

Tags: News
India is likely to clock an economic growth rate of 4.6 per cent this financial year and the expansion may improve to 5.4 per cent in 2014-15, the International Monetary Fund said today.

"Growth in India picked up after a favourable monsoon season and a higher export growth and is expected to firm further on strong structural policies supporting investment," IMF said in its World Economic Outlook update.

The growth rate in 2015-16, at factor prices (excluding taxes), is likely to be 6.4 per cent, it added.

At market prices (basic prices plus taxes but less subsidies), India's growth rate in 2013-14 is likely to be 4.4 per cent, IMF said. Its earlier estimate in October was 3.8 per cent.

For the next two fiscals, IMF projected a growth rate of 5.4 and 6.4 per cent respectively.

India's economy slowed to a decade low of 5 per cent in the last fiscal due to global slowdown and domestic factors, like high interest rates.

Growth rate during April-September of 2013-14 slipped to 4.6 per cent from 5.3 per cent in the same period last fiscal.

The report also said global activity strengthened during the second half of 2013 and is expected to improve further in 2014-15, largely on account of recovery in the advanced economies.

"Global growth is now projected to be slightly higher in 2014, at around 3.7 per cent, rising to 3.9 per cent in 2015...," the report said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Bureaucrats have enjoyed flying miles at taxpayer expense for too long

    The beleaguered Indian taxpayer will certainly applaud prime minister Narendra Modi’s attempt to deliver on his promise of cutting down fiscal defic

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

<b>Riskfactor</b>: CHAIN REACTION

A domino effect is the cumulative effect produced when one ...

Zehra Naqvi

Rememberance and forgetting are crucial

Memories are so vital to our lives that they can ...

Dharmendra Khandal

Sandalwood may get extinct if not protected

When we talk of sandalwood, the most common usage that ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture