India Economy Forecast October 2009

The India economy forecast released by the International Monetary Fund (IMF) in October 2009 predicts that the country's economic growth rate will decelerate in 2009 from the very high growth rates that prevailed over the period 2005-2007, but will still register an expansion rate that most countries in the world would envy.

In particular, the IMF predicts that the Indian economy will continue expanding in 2009 at an average rate of 5.4% after having grown 7.3% in 2008 and 9.4% in 2007.

Economic growth in India is predicted to accelerate gradually in the subsequent four years and reach 8% by 2013. The graph below depicts historical real GDP growth rates from 2004 to 2008 and annual forecasts for the period 2009-2013.

India Economy Forecast October 2009

The India economy forecast issued by IMF in October 2009 predicts also that the inflation rate in 2009 will increase to 8.7% from 8.3% in 2008, contrary to decreasing inflation trends observed in many other countries. As the graph below shows, inflation is predicted to be still above 8% in 2010 but decrease down to 4.1% by 2012.

India Inflation Forecast October 2009

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