International monetary Fund (IMF) on 21 January 2014 said that India’s economic growth rate in the current fiscal will be 4.6 percent. In its statement the IMF said the Indian growth has picked up after the favourable monsoon season. The higher export growth along with the strong structural policies had also played an important role in supporting investment in the country.
It also predicted that the growth rate may improve to 5.4 percent in 2014-15 and to be 6.4 percent in 2015-16. It has also projected the global growth to around 3.7 percent in 2014. IMF about the global and US economies looks to be optimistic as it has predicted that US economy will grow 2.8 percent. The forecast of US is 0.2 percent and globally growth by 0.1 percent higher than its October 2013 forecast.
About the International monetary Fund (IMF)
The International Monetary Fund (IMF) is an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.