IMF – International Monetary Fund in its latest round of forecast lowered the expected GDP growth for the Indian Economy for FY2023 to 6.8%, lower by 60 bps earlier.
This change was emulated from the lower than expected Q1 GDP
growth numbers which were announced in the August showing Indian economy grew
13.5% in April-June quarter, lower than the general economists’ consensus
forecast of 15% and the RBI’s 16.2%.
Keeping in view the Q1 numbers even RBI lowered it FY2023
projections for GDP Growth to 7% in its latest monetary policy meeting conducted
on 30th September, 2022, from earlier 7.2%.
Markedly, IMF kept the FY2024 growth projections for Indian
economy unchanged at 6.1%.
IMF also kept the global economy growth forecasts unchanged
at 3.2%.
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