India’s growth forecast

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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