The International Monetary Fund (IMF) on Wednesday pegged India’s economic growth rate in 2013 at 5.9 percent and projected a higher growth of 6.4 percent next year in line with the gradual strengthening of global expansion.
IMF in an update to its World Economic Outlook (WEO) also said the global growth is expected to reach 3.5 percent this year, higher than the estimated 3.2 percent.
The global growth would strengthen gradually in 2013, as the constraints on economic activity start to east this year. But the recovery is slow, and the report stressed that policies must address downside risks to bolster growth, the report noted.
For emerging market and developing economies, the report underscored the need to rebuild policy room for maneuver. It noted that “the appropriate pace of rebuilding must balance external downside risks against risks of rising domestic imbalances.”
by RTT Staff Writer
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