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Offer period 11th - 18th August, 2018

India's GDP growth likely to rise to 5.4% in 2014
Apr 11, 2014

According to the latest edition of the World Economic Outlook released by the IMF, India’s growth is expected to improve in 2014.  India’s growth is expected to recover from 4.4 per cent in 2013 to 5.4 per cent in 2014, supported by slightly stronger global growth, improving export competitiveness and implementation of recently approved investment projects. A pick-up in exports in recent months and measures to curb gold imports have contributed to lowering the current account deficit. Policy measures to bolster capital flows have further helped reduce external vulnerabilities.

Overall growth is expected to firm up on policies supporting investment and a confidence boost from recent policy actions, but will remain below trend. Consumer price inflation is expected to remain an important challenge, but should continue to move onto a downward trajectory. The outlook also estimated that India’s growth rate would increase to 6.4 per cent in 2015. In 2012, India’s growth rate stood at 4.7 per cent.

For India, the report said, real GDP growth is projected to strengthen to 5.4 per cent in 2014 and 6.4 per cent in 2015, assuming that Government efforts to revive investment growth succeed and export growth strengthens after the recent rupee depreciation.Further tightening of the monetary stance might be needed for a durable reduction in inflation. Continued fiscal consolidation will be essential to lower macroeconomic imbalances. Policy-makers in India must also concentrate on structural reforms to support investment.

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