Tag: GDP growth forecast

IMF raises India FY24 GDP growth forecast by 20 basis points to 6.3%
Business

IMF raises India FY24 GDP growth forecast by 20 basis points to 6.3%

The International Monetary Fund (IMF) on Tuesday raised its FY24 growth projection for India by 20 basis points to 6.3 per cent, citing stronger than expected consumption between April and June. “India is one of the large emerging economies that (have) been doing better than expected for quite a while now. (It) is one of the one of the growth engines in the world economy,” said Pierre-Olivier Gourinchas, economic counsellor and director of the research department, IMF. The IMF’s latest World Economic Outlook (WEO) kept its global growth forecast unchanged at 3 per cent for 2023 and pared down the 2024 projection by 10 basis points to 2.9 per cent.   “Growth in India is projected to remain strong, at 6.3 per cent in both 2023 (FY24) and 2024 (FY25), with a...