IMF predicts India’s growth rate to slow down in 2023 fiscal year and reduce inflation

Washington: The International Monetary Fund (IMF) today projected that the Indian economy is likely to slow down to 6.1 per cent in the next financial year from 6.8 per cent in the financial year ending March 31 this year. Global growth, which stood at 3.4 per cent in 2022, is projected to slow to 2.9 per cent in 2023, the IMF said in its report released today.

At the same time, the IMF said that inflation in India is expected to come down from 6.8 percent in the current financial year ending March 31 to 5 percent in the next financial year and then to 4 percent in 2024.