NEW DELHI – The International Monetary Fund (IMF) yesterday cut India’s gross domestic product (GDP) growth forecast for the financial year 2023-24 (April 2023-March 2024) by 20 basis points to 5.9%, reported Xinhua.
The IMF’s latest forecast is lower than the country’s central bank Reserve Bank of India’s GDP projection of nearly 6.4% during the financial year 2023-24.
In its World Economic Outlook report, the IMF also lowered India’s GDP forecast for the financial year 2024-25 to 6.3% from 6.8% it had predicted in January this year. – Bernama, April 12, 2023
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