Categories: Economy

IMF cuts India’s GDP growth forecast for FY23 to 8.2%

The International Monetary Fund (IMF) has slashed the gross domestic product (GDP) growth forecast for India in FY23 to 8.2 per cent in its latest World Economic Outlook report, released on April 19, 2022. Earlier in January report, this was estimated at 9 per cent. IMF has also cut India’s FY24 GDP growth forecast to 6.9 per cent. Earlier this was 7.1 per cent. In the case of the global economy, IMF has cut the growth forecast for the calendar year 2022 to 3.6 per cent from 4.4 per cent.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

FY23 forecasts by various institutions (in %)

Agency	Now	Earlier
World Bank	8	8.7
IMF	8.2	9
Fitch	8.5	10.3
India Ratings	7-7.2	7.6
Morgan Stanley	7.9	8.4
Citigroup	8	8.3
ICRA Ltd	7.2	8
RBI	7.2	7.8

Find More News on Economy Here

Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.