India [ Images ] is expected to record a gross domestic product (GDP) growth rate of 6 per cent this fiscal, which will improve further in the next fiscal with likely recovery in the global economy, Planning Commission Deputy Chairman Montek Singh Ahluwalia [ Images ] said.

"Next year they (IMF) expect the global economy to improve. I am hoping that our economy will also be able to improve," he said while talking Indian news agencies on the sidelines of the G-20 ministerial meeting.

Although the Reserve Bank too has projected a growth rate of 6 per cent during the current fiscal, many global agencies like the International Monetary Fund and World Bank expect the Indian economy to expand by only 5.25 per cent and 4 per cent, respectively.

Noting that the global economy is passing through a very severe phase, Ahluwalia said, "We are weathering it better than most countries."

The India economy during 2008-09, according to advance estimates for national income released by the Central Statistical Organisation (CSO) in February, was estimated to grow by 7.1 per cent, down from 9 per cent in the previous fiscal.