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 |
Fiscal Policy is one of the most influential pillars of India’s economic strategy. It determines…
The Earth has many amazing and unusual places, and some of them experience temperatures that…
In a striking reflection of a shifting global wealth landscape, the UBS Billionaire Ambitions Report…
In a landmark moment for cricket, Sunil Narine has become the first player in the…
Russia’s S-500 Missile System, officially known as 55R6M “Triumfator-M” or Prometey, is shaping the future…
India–Russia relations continue to evolve in a changing global order. Ahead of President Vladimir Putin’s…