Indian growth to shrink to 3.8%: IMF
Indian growth to shrink to 3.8%: IMF
India's economic growth
rate will shrink to 3.8% this year as the corruption-hit government
struggles to restore investor confidence ahead of elections, the International Monetary Fund forecast on Tuesday.
Stronger exports should help India's growth rate jump back to 5.0% in 2014, the IMF said in its latest World Economic Outlook survey.
But the IMF lowered its forecast for this fiscal year by almost two%age
points to 3.8%, citing "lacklustre activity in manufacturing and
services" and higher interest rates that have deterred business borrowing.
Stronger exports should help India's growth rate jump back to 5.0% in 2014, the IMF said in its latest World Economic Outlook survey.
But the IMF lowered its forecast for this fiscal year by almost two%age
points to 3.8%, citing "lacklustre activity in manufacturing and
services" and higher interest rates that have deterred business borrowing. 
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