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As reflected in the biannually World Economic Outlook of the International Monetary Fund (IMF) issued in Istanbul, the Indian economy is expected to grow by 6.5% in 2010 supported by strong domestic demand and growing private investment.
The regional economic outlook of IMF says, “India's growth is expected to accelerate to 6.5 per cent in 2010 from 5.33 per cent in 2009, on the back of strong domestic demand.” It also said, "In particular, the normalisation of financial conditions is expected to support a rebound of private investment, sustaining demand even as the fiscal stimulus wanes."
According to the Reserve Bank of India (RBI), the growth of Indian economy would be 6%. During the period 2009-10, the growth rate is expected to be more as shown in its 2nd quarterly review of monetary policy. Dr Manmohan Singh, the Prime Minister of India, holds that the economy would rise by 6 to 6.5% in the current financial year.
IMF said that Asian countries have witnessed faster economic recovery than others. The economic growth of the Asian nations is expected to reach 5.75% during 2010 in comparison to 1.25% estimated for the G-7 economies. It said that India and China are rebounding faster than the western nations. IBEF
October 30, 2009
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