Projects India’s GDP to pick up 6.4 % in 2015

The International Monetary Fund (IMF) on Tuesday forecast 5.6 per cent growth rate for India this year and a higher 6.4 per cent in 2015, citing renewed confidence in the market due to a series of economic reforms being undertaken by the new Government.

“Growth in India is expected to rise to 5.6 per cent in 2014 and pick up further to 6.4 per cent in 2015 as both exports and investment increase,” the IMF said in its latest World Economic Outlook report released here.

In 2013, India’s growth rate was 5 per cent.

On the other hand in China, growth will remain at 7.4 per cent in 2014 and is projected to be of 7.1 per cent in 2015.