In the fiscal years 2022-23 and 2023-24, respectively, IMF is anticipated that real GDP will expand by 6.8% and 6.1%, respectively.
New Delhi: The IMF had high hopes for India's economy, regardless of the actual situation. According to the IMF, India's growth rates for the current and subsequent fiscals could be 6.8% and 6.1%, respectively and said, India faces an external environment that is ‘very difficult’.
“India is a bright spot in a gloomy international economic scenario,” said IMF India Mission Chief Choueiri Nada during a virtual interaction with media on Friday, according to news agency sources. “We can see that the economy is expanding quite rapidly this fiscal year,” he continued. The IMF's annual report on consultations with India was recently released. India's growth is anticipated to moderate in the current and subsequent fiscal years, according to that report. The tight financial situation is reflected in this. In the fiscal years 2022-23 and 2023-24, respectively, it is anticipated that real GDP will expand by 6.8% and 6.1%, respectively.
Nada asserts that these estimates are significantly superior to previous projections. In point of fact, India, according to our estimation, will contribute 50% to global growth this year and next, he stated.
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