India to become world's fastest growing economy : IMF

According to the latest projections by the International Monetary Fund's flagship publication The World Economic Outlook, India is poised to become the world's fastest growing major economy in two years as China slows down after excessive spending and investment drying up. India's GDP is likely to grow at 6.3 percent in the next fiscal and 6.5 percent in the year to March 2017, which will be the third year of the Narendra Modi government that has rolled out several measures to perk up the economy and lift overall business sentiment. IMF deputy director Gian Maria Milesi-Ferretti termed the new government's plan as promising, but said the speed of implementation will have to be seen.