New Delhi, Oct. 15 -- India is projected to become the world's fourth-largest economy in 2027, overtaking Japan, according to International Monetary Fund (IMF) projections released on Thursday.

The IMF's outlook comes as it endorsed India's revised GDP calculation methodology, describing the changes as consistent with international best practices and advice provided by its statistics department, AFP reported.

Krishna Srinivasan, director of the IMF's Asia and Pacific Department, called the revision a "welcome development" and commended the Ministry of Statistics and Programme Implementation (MoSPI) for improving the country's GDP statistics.

"These revisions to the methodology are entirely consistent with the advice we've been giving t...