| IMF unlikely to up India's growth forecast |
| Asit Ranjan Mishra / New Delhi October 6, 2007 |
| The International Monetary Fund (IMF) will come out with its revised forecast of India's economic growth for 2007 on 17 October along with the World Economic Outlook (WEO). However, IMF is unlikely to revise upwards its present gross domestic product (GDP) growth forecast of 9% for the year feel analysts. In its report released earlier this April, the UN body had projected a GDP growth rate of 8.4% for calendar year 2007. IMF revised its forecast to 9% for India in the July economic outlook update. The global growth forecast was also revised upwards from 4.9% in April, to 5.2%. "IMF has consistently been more optimistic than other forecasters, particularly the investment banks," said Joshua Felman, senior resident IMF representative in India. However, he declined to comment on whether the present projection would be revised upwards further. Analysts feel the upward revision is unlikely. "IMF has been quite optimistic about India |
