The International Monetary Fund (IMF) lowered its growth prediction for India’s fiscal year 24 economy by twenty basis points, bringing it down to 5.9 percent, in the Global Economic Outlook survey that it published on Tuesday. This most recent prognosis is lower than the projection made by the Central Bank of India, which was 6.4%. In spite of this, the analysis predicts that India will continue to have the highest economic growth of any country in the globe.
In addition, the IMF forecasts that India’s retail inflation would reach 4.9% in the fiscal year of 2024 and 4.4% in the fiscal year of 2025.
IMF Growth Forecast: 2023
USA🇺🇸: 1.6%
Germany🇩🇪: -0.1%
France🇫🇷: 0.7%
Italy🇮🇹: 0.7%
Spain🇪🇸: 1.5%
Japan🇯🇵: 1.3%
UK🇬🇧: -0.3%
Canada🇨🇦: 1.5%
China🇨🇳: 5.2%
India🇮🇳: 5.9%
Russia🇷🇺: 0.7%
Brazil🇧🇷: 0.9%
Mexico🇲🇽: 1.8%
KSA🇸🇦: 3.1%
Nigeria🇳🇬: 3.2%
RSA🇿🇦: 0.1%https://t.co/lvRdo3zKMV pic.twitter.com/mZOsBfCYS5— IMF (@IMFNews) April 11, 2023
The International Monetary Fund (IMF) revised its projections for India’s economic growth for the 2024-25 fiscal year, bringing those projections down to 6.3% from 6.8%, which they had forecasted back in January of this year.
Despite the fact that the growth projections have been significantly revised downward, India is still expected to have the highest economic growth of any country in the world.
The International Monetary Fund (IMF) had previously anticipated in its annual report that the global economy would expand by 2.8% this year and 3% in 2024, which was a decrease of 10 basis points for each of its January predictions.
