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IMF down India’s FY22 growth forecast to 9% from 9.5%

The International Monetary Fund (IMF) has cut India’s economic growth forecast for the current fiscal 2021-22 (FY22) to 9 per cent, in its latest world economic outlook report.

Sumit Arora Published On January 27th, 2022 Leave a comment

The International Monetary Fund (IMF) has cut India’s economic growth forecast for the current fiscal 2021-22 (FY22) to 9 per cent, in its latest world economic outlook report. Earlier this was estimated at 9.5%. IMF has projected the growth forecast for India in 2022-23 (FY23) at 7.1% IMF has projected the global growth rate in 2022 to 4.4%, and in 2023 to 3.8%.

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According to the IMF, India’s prospects for 2023 are marked up on expected improvements to credit growth and, subsequently, investment and consumption, building on the better-than-anticipated performance of the financial sector. A revised assumption removing the Build Back Better fiscal policy package from the baseline, earlier withdrawal of monetary accommodation, and continued supply shortages produced a downward 1.2 percentage-point revision for the United States, it said.

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Sumit Arora

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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.