look news india
The Indian economy is the fastest growing economy in the world and this turbulent pace will continue in the future also. We are not saying this but the International Monetary Fund (IMF) has said this. The global body has described India's outlook as encouraging and raised its GDP growth forecast by 30 basis points to 6.8 percent. On the other hand, there are concerns about China's economy.
Indian economy will grow at this pace
Lok Sabha elections 2024 are going to be held in India in a few days and before that, good news is coming one after the other for the economy. Be it the World Bank, Fitch-ADB or Moody's, everyone has expressed confidence in the fast pace of the Indian economy. Now good news has also come from IMF. Revising its forecast, the IMF projects the Indian economy to grow at 6.8 per cent in fiscal year 2024-25, higher than the International Monetary Fund's 6.5 per cent growth estimate in January.
IMF increased by 30 basis points
The IMF has raised its growth forecast for India by 30 basis points or 0.30 per cent for the current financial year, while maintaining the forecast for the next financial year 2025-26 at 6.5 per cent. The report released in this regard states that the outlook has been revised in view of the continued strength in domestic demand and the increasing population of working age. The new estimate of IMF is close to the estimate given by the Reserve Bank of India (RBI). Let us tell you that RBI has expressed hope that the economy will grow at the rate of 7 percent in the current financial year starting from April 1.