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Wednesday, March 17, 2010 (19:57:51) |
| Tags : India, International Monetary Fund, Economy |
IMF forecasts 8 percent growth for India |
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| Washington: In an upbeat assessment of India's growth outlook, the International Monetary Fund (IMF) forecast India's economic growth to accelerate to 8 percent in 2010-11 from 6.75 percent in 2009-10.
However, IMF in its latest Article IV consultation paper issued today also cautioned India on the need to rein in high inflation and rising fiscal deficit.
"With India's long-term prospects remaining strong and private sector balance sheets sound, we expect growth to be back at potential in 2010-11 even if advance economies grow below trend," it said.
India's economy is recovering well, with conditions now in place for a gradual tightening of monetary policy, the IMF said while indicating there is room for the rupee to rise without compromising a recovery.
"India's economy is rebounding strongly ahead of most countries in the world, bringing policy trade-offs to a head earlier than in other countries," the IMF said. (IANS) |
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