India’s Growth Projection : IMF
The IMF has projected the Indian economy to grow at 6.1% in 2023 in its World Economic Outlook report.
Highlights of Report:-
- The IMF projected a growth rate of 6.1% for India in 2023, which is a 2 percentage point upward revision compared with the April 2023 projection.
- This is reflective of the “momentum” from stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment,
- Global growth is projected to fall from an estimated 5% in 2022 to 3% in both 2023 and 2024.
- Global headline inflation expected to fall from 8.7% in 2022 to 6.8% in 2023 and 5.2% in 2024.
- Underlying (core) inflation is projected to decline more gradually, and forecasts for inflation in 2024 have been revised upward.
- Financial sector: the turbulence could resume as markets adjust to further policy tightening by central banks.
- The United States economy has slowed down considerably and faces uncertainty amid global and domestic headwinds.
China’s recovery could slow, in part as a result of unresolved real estate problems, with negative cross-border spillovers.
