About:
- IMF’s move follows the World Bank slashing its FY23 growth projection for India to 6.5 per cent recently from 7.5 per cent predicted earlier.
- India is projected to grow at 6.8% in the current fiscal year, following 8.7% growth in fiscal year that ended March 31 as per figures released in the IMF’s October 2022 World Economic Outlook.
- Growth rate for this year for India has been revised downward by 0.6 percentage points relative to the IMF’s June 2022 forecast, following a weaker output in the second quarter, and subdued external demand.
- The forecast for the next fiscal year remains unaltered at 6.1%.
- The IMF has projected 6.9% consumer price inflation this year and 5.1% next year.
- For the world as a whole, growth will slow down from 6.0% in 2021 to 3.2% in 2022 and 2.7% in 2023.
Reports Published by IMF:
- Global Financial Stability Report
- Fiscal Monitor
- World Economic Outlook
- Regional Economic Outlook
- Managing Director’s Global Policy Agenda
Source : The Hindu
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