IMF pegs FY14 GDP growth at 4.25%

The International Monetary Fund (IMF) on Tuesday estimated the Indian economy to grow at 4.25% in 2013-14, hurt by lacklustre manufacturing and services sectors and slowdown in demand due to monetary tightening. Several multilateral agencies, economist and brokerages have scaled down India's growth projections for the current financial year after the April-June quarter data showed the economy expanded at its weakest pace in four years at 4.4%.

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