IMF decreases FY23 India’s GDP growth forecast: In light of lower-than-anticipated output in the second quarter and more sluggish external demand, the International Monetary Fund (IMF) reduced India’s growth prediction for FY23 from 7.4% forecasted in July to 6.8%. India’s growth projection for FY23 has undergone three decreases, starting from 9% in January of this year.
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Gross Direct Tax Collections For FY 2022-23 Register Growth Of 25.90%
The current account deficit for India is anticipated to increase to 3.5% of GDP in FY23 before decreasing to 2.9% in FY24. Retail inflation in the nation is predicted to stay high in the current fiscal year at 6.9% before dropping to 5.1% in FY24. That is lower than the central bank’s goal rate, which is 4% with a tolerance range of 2% on each side.
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