IMF projects Indian economy to grow at 9.5% in 2010

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mrinal ali hazarika

24 July, 2010

International Monetary Fund (IMF) has revised it's projections about the growth of the Indian economy for the year 2010. In its earlier report revealed in April, the growth of Indian the Indian economy was projected at 8.8%.

INTERNATIONAL MONETARY Fund (IMF) has revised it’s projections about the growth of the Indian economy for the year 2010. In its earlier report revealed in April, the growth of Indian the Indian economy was projected at 8.8%, but in it’s latest projection the body has pushed up it’s projection to a fantastic 9.5%. The report says that this robust growth will be mainly propelled by the favourable conditions prevailing in financing and investment and hefty amount of corporate profits.

IMF reports says that in the first quarter of 2010, the global economy has expanded at the annual rate of over 5% and most of this growth is attributed to the stupendous growth that the Asian economies has achieved. The international body projected that the world economy will grow at 4.5% in the year 2010 and 4.25% in the year 2011.

The body also noted that in the first half of 2010, the Asian economy continued to keep it’s stupendous recovery from the global financial crisis. But at the same time IMF also warned that though the Asian economy is performing well and showing better than expected results in the first half of the year, uncertainties and risk factors can’t be completely ignored.