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.

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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

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

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