International Monetary Fund and World Bank has prepared report for their meeting schduled on 17th & 19th April 2015 on World Economic outlook. As per this report, Indian economy is expected to grow @of 7.2% for 2014-15 and 7.5% for the year 2015-16. It has further projected that this growth rate would be 7.8% in the financial year 2020-21. IMF has also projected that Indian Growth rate would be higher than the growth rate of China in year 2015-16. Indian Growth rate is expected to be 7.5% as against China’s 6.8% further, China’s growth rate is expected to slighty fall and would be around 6.3% in 2017-18 and is ecpected to continue at this level upto the year 2020-21.
Above estimates of IMF are bit less that the estimates projected by our Niti Ayog which says that our growth rate would be between 8-10% for next 15 years. IMF has attributed this positive change in future growth rate due to low oil prices and pickup in investments following recent policy reforms by the government. With above projected growth rate indicated by IMF and our Niti Ayog, It is happy moment for all that we would achieve around 8% growth rate. With this pace of growth, we would be in a positiion to increase per capita income particularly of poor households and help our courntry in improving overall rating in world.