The International Monetary Fund, IMF has pegged India's economic growth rate in 2013 at 5.9 per cent and projected a higher growth of 6.4 per cent next year in line with the gradual strengthening of global expansion.The IMF in its update to the World Economic Outlook also said the global growth is expected to reach 3.5 per cent this year, higher than the estimated 3.2 per cent.The Monetary Agency said the space for further policy easing has diminished, while supply bottlenecks and policy uncertainty have hampered growth in Brazil and India.