Business IMF raises India’s growth forecast
Mumbai News: The International Monetary Fund (IMF) has marginally raised India’s GDP growth forecast for 2023-24 by 0.2 per cent to 6.3 per cent. However, the global growth forecast has been reduced to 3 per cent. The IMF had said in July that India’s growth rate for 2023-24 could be 6.1 percent.
This figure was lower than the Reserve Bank of India’s estimate of 6.5 percent in this period. The IMF today lowered China’s growth forecast in the World Economic Outlook to 0.2 per cent for 2023 and 0.3 per cent for 2024 to 5 per cent and 4.2 per cent. Thus, India’s growth rate for the current financial year is likely to be higher than China’s.