India set to grow faster than other emerging markets, as per IMF

New Delhi: The International Monetary Fund (IMF) has forecasted the Indian economy to grow at 7.5 per cent in FY 2015-16, faster than every other major emerging market, mainly due to increase in investments, policy reforms and lower commodity prices. In 2015, inflation is expected to reduce further, reflecting the fall in global oil and agricultural commodities prices, which is expected to aid domestic demand as well as decrease India’s current account deficit. Prime Minister Mr Narendra Modi has outlined several business reforms aimed at attracting foreign investments such as simpler regulations, removing limits for foreign investments in certain sectors and enabling fast-track approvals for infrastructure projects. The government is taking efforts towards making the tax regime transparent and predictable.