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| Indian economy to grow by 7.7% | | |
New Delhi: With the global recovery off to a stronger start, Indian economy is projected to grow at 7.7 per cent in 2010, 1.3 percentage points higher than forecast earlier, the International Monetary Fund (IMF) said on Tuesday.
India, that recorded a growth rate of 7.3 per cent in 2008, dipping down to an estimated 5.9 per cent in 2009, is projected to grow at a still marginally higher 7.8 per cent in 2011, up 0.5 percentage points from last year's forecast, the IMF said in an update of World Economic Outlook (WEO).
Noting that the recovery is proceeding at different speeds in the various regions, IMF said world output is expected to rise by 4 per cent in 2010, representing an upward revision of .75 percentage point from the October 2009 WEO.
Following the deepest global downturn in recent history, economic growth solidified and broadened to advanced economies in the second half of 2009, it said.
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