Global Activity is expected to improve further in 2014-15, largely on account of recovery in the advanced economies
India is likely to register an economic growth rate of 4.6 per cent this financial year and the expansion may rise to 5.4 per cent in 2014-15, the International Monetary Fund (IMF) stated. "Growth in India picked up after a favourable monsoon season and a higher export growth and is expected to firm further on strong structural policies supporting investment," IMF said in its recent World Economic Outlook (WEO) update. The growth rate in 2015-16, at factor prices (excluding taxes), is likely to be 6.4 per cent, it added. At market prices, India's growth rate in 2013-14 is likely to be 4.4 per cent. Its earlier estimate in October was 3.8 per cent. For the next two fiscals, IMF projected a growth rate of 5.4 and 6.4 per cent respectively.Global growth is expected to be higher added the report. Global growth is now projected to be slightly higher in 2014, at around 3.7 percent, rising to 3.9 percent in 2015, a broadly unchanged outlook from the October 2013 WEO. Global activity strengthened during the second half of 2013, as anticipated in the October 2013 WEO. Activity is expected to improve further in 2014-15, largely on account of recovery in the advanced economies, IMF said.
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