IMF ups India's 2010 eco growth forecast to 8.8% vs 7.7%
Published on Wed, Apr 21, 2010 at 21:07 | Source : CNBC-TV18
Updated at Thu, Apr 22, 2010 at 09:19
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IMF ups India's 2010 eco growth forecast to 8.8% vs 7.7%
The International Monetary Fund (IMF) has upped India's 2010 economic growth forecast to 8.8% from 7.7%, reports CNBC-TV18. It has raised India's 2011 economic growth forecast to 8.4% from 7.8%.
The International Monetary Fund (IMF) has upped India's 2010 economic growth forecast to 8.8% from 7.7%, reports CNBC-TV18. It has raised India's 2011 economic growth forecast to 8.4% from 7.8%.
It feels durable fiscal consolidation is the main challenge to India and sees corporate profits, business confidence driving investments. "India's growth has been supported by private demand. Consumption is likely to improve as labour markets strengthen."
IMF has also raised 2010 global economic growth forecast to 4.2% from 3.9%. It now foresees US 2010 economic growth at 3.1% versus 2.7%. China 2010 economic growth forecast has also been raised to 9.9% versus 9.7%.
According to IMF, the global recovery has been stronger than expected. But was quick to add that advanced nations need fiscal and monetary policy support in 2010.
The International Monetary Fund (IMF) has upped India's 2010 economic growth forecast to 8.8% from 7.7%, reports CNBC-TV18. It has raised India's 2011 economic growth forecast to 8.4% from 7.8%.
