India to grow at 7.5 percent, faster than China: IMF
7 October 2015, Nirapad News: Indian economy is expected to grow faster than other major emerging economies, the IMF said on Tuesday, projecting a growth rate of 7.5 per cent for India in 2016 as against China’s 6.3 per cent.
“Growth in India is expected to rise above the rates in other major emerging market economies,” the IMF said in its latest World Economic Outlook Update released.
The report said, “India’s growth is expected to strengthen from 7.3 per cent this year and last year to 7.5 per cent next year.
On the other hand, growth in China is expected to decline to 6.8 per cent this year and 6.3 per cent in 2016.
The report said the growth will benefit from recent policy reforms, a consequent pickup in investment, and lower commodity prices. On Inflation the report said in India, it is expected to decline further in 2015, reflecting the fall in global oil and agricultural commodity prices.
It said the growth recovery in the euro area is projected to be broad based, whereas in the Latin America and the Caribbean, activity is expected to rebound in 2016 after a recession.