IMF pegs India’s growth at 6.7% in FY24
10 months, 3 weeks ago

IMF pegs India’s growth at 6.7% in FY24

New Indian Express  

NEW DELHI: The International Monetary Fund on Tuesday increased its gross domestic product growth forecast for India in 2023-2024 to 6.7% from an earlier projection of 6.3% in October last year. “Growth in India is projected to remain strong at 6.5% in both 2024 and 2025, with an upgrade from October of 0.2 percentage point for both years, reflecting resilience in domestic demand,” the International Monetary Fund said in its update to the World Economic Outlook report. The upward revision in growth forecasts comes just ahead of the presentation of the 2024-25 interim Budget, where it is anticipated that the Indian finance ministry will continue to implement measures aimed at enhancing financial stability and growth prospects. Meanwhile, the report also added that the growth in emerging and developing Asia is expected to decline from an estimated 5.4% in 2023 to 5.2% in 2024 and 4.8% in 2025, with an upgrade of 0.4 percentage point for 2024 over the October 2023 projections, attributable to China’s economy.

History of this topic

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