IMF raises India’s GDP forecast to 6.8% in ’24

PTI

Washington, April 16

The International Monetary Fund on Tuesday raised India’s growth projection to 6.8 per cent from its January forecast of 6.5 per cent citing bullish domestic demand conditions and a rising working-age population.

With this, India continues to be the fastest growing economy of the world, ahead of China’s growth projection of 4.6 per cent during the same period.

“Growth in India is projected to remain strong at 6.8 per cent in 2024 and 6.5 per cent in 2025, with the robustness reflecting continuing strength in domestic demand and a rising working-age population,” said the latest edition of the World Economic Outlook released by the IMF.

At the same time, growth in emerging and developing Asia is expected to fall from an estimated 5.6 per cent in 2023 to 5.2 per cent in 2024 and 4.9 per cent in 2025, a slight upward revision compared with the January 2024 WEO Update.

IMF in its January update had projected 6.5 per cent growth for India in 2024.

Global growth, estimated at 3.2 per cent in 2023, is projected to continue at the same pace in 2024 and 2025.

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