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IMF raises India's GDP forecast to 6.8% for 2024-25

IMF raises India's GDP forecast to 6.8% for 2024-25

The Reserve Bank of India, the country's central bank, estimates the economy to grow at 7% in the current financial year that started on April 1.

Reuters
Reuters
  • Updated Apr 16, 2024 8:32 PM IST
IMF raises India's GDP forecast to 6.8% for 2024-25IMF Representative Clarifies Subramanian's Projections for India's Growth as Personal Views, Not IMF's Official Stance

The International Monetary Fund (IMF) has raised India's growth forecast for 2024-25 to 6.8% from 6.5% on the back of strong domestic demand and a rising working-age population.

The Reserve Bank of India, the country's central bank, estimates the economy to grow at 7% in the current financial year that started on April 1.

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The IMF estimates Asia's third largest economy's gross domestic product to grow at 6.5% in the next financial year, it said in the World Economic Outlook released on Tuesday.

The agency also revised upwards the growth figure for 2023-24 to 7.8% from 6.7% it had forecast in January. India's own official estimates had pegged growth at 7.6%.

"Global economy remains remarkably resilient, with growth holding steady as inflation returns to target," the IMF said while predicting the global real GDP growth at 3.2% for 2024 and 2025, the same rate as in 2023.

Published on: Apr 16, 2024 8:32 PM IST
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