The International Monetary Fund (IMF) on Tuesday cut India’s GDP growth forecast for the financial year 2023-24 by 20 basis points to 5.9 percent. The latest forecast is lower than the Reserve Bank of India’s projection of 6.4 per cent. But, India will continue to be the fastest-growing economy in the world.
The IMF expects India’s retail inflation to be at 4.9% in FY24 and 4.4% in FY25.
In its World Economic Outlook report, the IMF also lowered the forecast for India for 2024-25 fiscal to 6.3 per cent from the 6.8 per cent it had predicted in January this year.
