• UGI USER
  • Apr 17, 2024
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IMF FORECASTS INDIA’S ECONOMY TO GROW 6.8% THIS FISCAL YEAR

Why in the news?

IMF raises India’s growth forecast to 6.8% for FY 2024/25, highlighting global economic resilience amid challenges.

source:BS

About the IMF Raises India’s Growth Forecast:

  • Growth Projections: IMF revises India’s GDP growth forecast for FY 2024/25 to 6.8%, up by 0.3% from January’s projection. It forecasts a 6.5% expansion for the next fiscal year.
  • Global Economic Outlook: Despite challenges like supply disruptions and geopolitical tensions, the global economy shows resilience, with projected output growth of 3.2% in 2024 and 2025, rebounding from 2.3% in 2022.
  • Policy Recommendations: IMF suggests moderating India’s growth rate due to tighter monetary and fiscal policies to control inflation.
About The International Monetary Fund (IMF):

  • The International Monetary Fund (IMF) is an organisation of 190 member countries.
  • Secure financial stability to prevent financial crises.
  • Facilitate international trade by providing a stable monetary environment.
  • Promote high employment and sustainable economic growth worldwide.
  • Reduce poverty globally through macroeconomic growth initiatives.
  • Provide policy advice and financing to developing countries.
  • Promote exchange rate stability and international payment system integrity.

Source:

https://www.thehindu.com/incoming/imf-forecasts-indias-economy-to-grow-68-this-fiscal-year/article68072638.ece