The International Monetary Fund (IMF) has raised India's growth forecast for the current fiscal to 7.2 per cent. In its annual assessment report for the country, IMF said that India has emerged as one of the fastest-growing big emerging market economies and the growth rate would grow by 7.5 per cent. The new forecasts have taken into account a revised methodology adopted by India earlier this year for calculating the GDP figures, about which IMF said that the country has improved the way it measures economic output.Last year, IMF had forecast a growth rate of 5.6 percent for the current fiscal, and 6.4 per cent for the next. The IMF said, the Indian economy is reviving, helped by positive policy actions that have improved confidence and lower global oil prices. It anticipated stronger growth in the next fiscal on the back of stronger investment flows following improvements to the business climate. It said, to continue on this trend, India needs to revitalise the investment cycle and accelerate structural reforms.