India set to grow at 5.4% in 2014: IMF

India set to grow at 5.4% in 2014: IMF
International Monetary Fund (IMF) has projected India's growth to recover from 4.4 per cent in 2013 to 5.4 per cent in 2014 and strengthen to 6.4 per cent next year, in its April 2014 World Economic Outlook (WEO).

These projections — essentially unchanged from its January forecast — are based on the assumption that government efforts to revive investment growth succeed and export growth strengthens after the recent rupee depreciation, IMF said in the April 2014 WEO.

IMF said that a pick-up in exports in recent months and measures to curb gold imports have contributed to lowering the current account deficit.

"Overall growth is expected to firm up on policies supporting investment, but will remain below trend,"  IMF said.

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