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India’s GDP Growth to Dip: IMF

July 26, 2023

GDP Growth to Come Down from 7.2% to 6.1%, IMF predicts

Washington D. C, July 26: The International Monetary Fund (IMF) forecasts a dip in India’s GDP growth over the next two years, as it says that India’s GDP growth would fall from 7.2 % in FY23 (financial year 2023)

Data released on Tuesday indicated that India’s GDP growth would fall from 7.2% in FY23 to 6.1%.

According to the IMF, it is quite possible to see India’s GDP (Gross Domestic Product) in the current financial year come down to 6.1% and then rise a touch to 6.3% in FY25.

“For India, data and projections are presented on a fiscal year basis, with FY 2022/23 (starting in April 2022). India’s growth projections are 6.6% in 2023 and 5.8% in 2024 based on calendar year,” the IMF said.

On the other hand, the Reserve Bank of India projects India’s GDP growth in the current financial year at 6.5% while the World Bank’s estimate is 6.3%.

India is currently a $ US 3.3 trillion economy.

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