International monetary fund predicts 9.7% growth for India

Thursday, October 7, 2010

International monetary fund predicts 9.7% growth for India

Indian growth prospects for the year 2010 remains high after what IMF had said recently.

World economic outlook had reported a strong performance from India. International monetary fund has said that due to India's strong showing in the field of industrial production and macro economics, the country is bound to show positive growth rate in 2010.

It has also said that India could very well reach 9.7 % growth in 2010.

The world body had also predicted a strong showing by China. The Chinese seems to be heading for a 10.5% growth in the current year.

However, the Indian growth rate may show a downtrend in the year 2011 according to International monetary fund report. It may touch low at 8.4% which is also a very good sign, comparatively to economies of other developed countries.

Countries that are considered to be advanced economies would run low. The growth predictions would be 2.7% for developed economies.

Talking of India, IMF said that Indian growth would continue to remain high as external sources of funding would make an impact, and corporate sector is expected to perform highly.

On the other hand, Chinese economy had done well as result of a boom in the domestic market.

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