IMF Raises Growth Forecast For India From 6.5 Per Cent To 6.8 Per Cent For FY24
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The International Monetary Fund (IMF) on Tuesday issued a favourable growth projection for India to 6.8 per cent for the 2023-24 fiscal year (FY24). Earlier in January, the global body gave a growth estimate of 6.5 per cent for the economy. The improvement in the estimates was attributed to robust domestic demand conditions and a jump in the working-age population.
The IMF further noted that with the estimates, India is set to remain as the fastest-growing economy globally, surpassing China with the second-highest growth rate estimate of 4.6 per cent during the period under review. The growth rate for India for the 2024-25 fiscal year (FY25) is estimated to touch 6.5 per cent, the latest edition of the World Economic Outlook, released by the IMF re...