The World Economic Outlook a twice-yearly publication from International Monetary Fund syas that India's economic growth rate will advance to 6.5 per cent in 2010 on the back of robust domestic demand and rising private investment.
The outlook also says that “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 added, "In particular, the normalisation of financial conditions is expected to support a rebound of private investment, sustaining demand even as the fiscal stimulus wanes." The fact that the demestic demand is going to increase and the private investment is going to grow is a positive indication of economic recovery. I don't have much idea about the piece "Fiscal Stimlus" may be I think I will refer and explain in it my next blog.
The IMF added that economic recovery in Asia is faster than the elsewhere and that it is projected to grow by 5.75 per cent during 2010 compared to 1.25 per cent predicted for the G-7 economies. It said that China and India are bouncing back more quickly that the western world.
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