IMF pegs India's growth at 4.5%

IMF pegs India's growth at 4.5%
The Economic Times, April 23, 2009, Page 14

NEW DELHI: IMF on Wednesday scaled down In-dia's growth projections for 2009 to 4.5% from the earlier estimate of 5.1%. The Indian economy is also expected to register a slower growth rate at 5.6% next year, down from 6.5% estimated earlier, the IMF said in its latest World Economic Outlook. The IMF's estimates are quite pessimistic compared to the Reserve Bank's projections, which too are seen as conservative. The RBI in its annual policy has pegged India's economic growth at 6% this fiscal, which comprises the last nine months of the calendar year 2009. RBI governor D Subbarao on Wednesday said that India's growth going below 6% this fiscal is a remote possibility.