• Tue. Feb 27th, 2024

India’s GDP growth will slow in the coming months, with the IMF expecting 6.1 percent growth in FY24

India’s GDP growth will slow in the coming months, with the IMF expecting 6.1 percent growth in FY24

The International Monetary Fund predicts a slowdown in India’s GDP growth over the next two years. Data released on Tuesday indicated that India’s GDP growth will slow to 6.1 percent in the current fiscal from 7.2 percent in FY2023 and then pick up to 6.3 percent in FY25.

The International Monetary Fund predicts a slowdown in India’s GDP growth over the next two years. India’s GDP growth is expected to slow to 6.1 percent in the current fiscal from 7.2 percent in FY2023 and pick up to 6.3 percent in FY25, data released on Tuesday showed.

“For India, data and projections are presented on a fiscal year basis shown in the 2022 column for fiscal year 2022/23 (starting April 2022). India’s growth forecasts are 6.6% in 2023 and 5.8% in 2024 on a calendar year basis,” the IMF explained.

“For India, data and projections are presented on a fiscal year basis shown in the 2022 column for fiscal year 2022/23 (starting April 2022). India’s growth forecasts are 6.6% in 2023 and 5.8% in 2024 on a calendar year basis,” the IMF explained.

The latest World Economic Outlook data forecast a 0.2% point upward revision from its April estimates, fueling stronger-than-expected growth momentum in the fourth quarter of 2022 on the back of strong domestic investment.

The latest World Economic Outlook data forecast a 0.2% point upward revision from its April estimates, fueling stronger-than-expected growth momentum in the fourth quarter of 2022 on the back of strong domestic investment.

It is noteworthy that Reserve Bank of India has forecast 6.5% growth for this financial year while World Bank’s forecast is 6.3%.

It is noteworthy that Reserve Bank of India has forecast 6.5% growth for this financial year while World Bank’s forecast is 6.3%.

The IMF slightly raised its 2023 global growth estimate in its latest World Economic Outlook data, but warned that persistent challenges undermine the medium-term outlook.

The IMF slightly raised its 2023 global growth estimate in its latest World Economic Outlook data, but warned that persistent challenges undermine the medium-term outlook.

The IMF also slightly raised its global growth estimate for 2023 on Tuesday, but warned that persistent challenges undermined the medium-term outlook. The global lender said global real GDP growth would be 3.0% in 2023 – up 0.2 percentage points from its April forecast. However, it kept the 2024 outlook unchanged at 3.0%.

The IMF also slightly raised its global growth estimate for 2023 on Tuesday, but warned that persistent challenges undermined the medium-term outlook. The global lender said global real GDP growth would be 3.0% in 2023 – up 0.2 percentage points from its April forecast. However, it kept the 2024 outlook unchanged at 3.0%.

Asia’s third-largest economy beat all estimates to grow at 6.1% in the final quarter of FY23 – up from a revised 4.5% in the previous quarter. India became a $3.3 trillion economy as the annual growth rate reached 7.2 percent, government data released at the end of March showed.

Asia’s third-largest economy beat all estimates to grow at 6.1% in the final quarter of FY23 – up from a revised 4.5% in the previous quarter. India became a $3.3 trillion economy as the annual growth rate reached 7.2 percent, government data released at the end of March showed.

India will become a developed country by 2047 with an average annual real GDP growth of 7.6% over the next 25 years, according to an RBI bulletin released earlier in July.

India will become a developed country by 2047 with an average annual real GDP growth of 7.6% over the next 25 years, according to an RBI bulletin released earlier in July.

Meanwhile, World Bank President Ajay Banga recently noted that domestic consumption provides a natural cushion for the country’s economy against a global slowdown as much of GDP depends on local demand.

Meanwhile, World Bank President Ajay Banga recently noted that domestic consumption provides a natural cushion for the country’s economy against a global slowdown as much of GDP depends on local demand.

(with inputs from agencies)

(with inputs from agencies)

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