IMF expects Indian economy to grow at 6.1% in 2023 vs 6.8% in 2022
IMF chief economist and director of research department Pierre-Olivier Gourench attributed India's decline in growth rate during 2023 largely to adverse externa
- by B2B Desk 2023-01-31 04:34:50
The International Monetary Fund (IMF) said it expects some setbacks for India's upcoming financial economy and pegged the growth rate at 6.1 percent in 2023, down from 6.8 percent in 2022. However, the world financial institution predicted that the growth rate of the Indian economy would return to 6.8 percent by 2024, according to the World Economic Outlook.
IMF chief economist and director of research department Pierre-Olivier Gourench attributed India's decline in growth rate during 2023 largely to adverse external factors.
The PTI news agency quoted Gurinchas as saying: "Our growth forecast for India has actually not changed from our forecast for October. We have growth of 6.8 per cent in this current fiscal year, which runs until March, and then we expect a slowdown to 6.1 percent in [fiscal year] 2023. And that's largely due to external factors."
The World Economic Outlook issued by the International Monetary Fund also indicated that global growth is expected to slow from around 3.4 percent in 2022 to 2.9 percent in 2023 and then rise to 3.1 percent in 2024. Growth is likely to pick up in Asia and developing to 5.3 percent in 2023 and 5.2 percent in 2024 after declining to 4.3 percent in 2022 due to uncertain economic conditions in China.
POPULAR POSTS
Vladimir Putin Accuses Google of Pushing US Political Agenda Amid YouTube Tensions
by B2B Desk, 2024-12-20 10:57:52
Reliance Brands to Exit Replay and G-Star RAW Partnerships
by B2B Desk, 2024-12-16 06:34:15
Growth in Credit Card Balances Slows Down as Delinquencies Rise
by B2B Desk, 2024-12-12 10:15:08
Mobikwik Raises Rs 257.4 Crore from Anchor Investors
by B2B Desk, 2024-12-11 11:22:50
US Treasury Transfers USD 20 Billion in Ukraine Loan Funds to World Bank Facility
by B2B Desk, 2024-12-11 10:37:05
Myntra Duped of ₹1.1 Crore in ‘Refund’ Scam by Jaipur-Based Gang: Here’s How They Pulled It Off
by B2B Desk, 2024-12-10 06:43:48
Inflation Likely to Ease to 5.4% in November on Decline in Vegetable Prices: Union Bank
by B2B Desk, 2024-12-09 11:44:15
Follow on Insta
RECENTLY PUBLISHED
Stock Market Crash: Sensex Cracks 1,200 Points; Why is the Indian Stock Market Falling Today? Explained with 5 Factors
- by B2B Desk, 2024-12-19 06:29:28
Beware of 'Digital Arrest' Scam: NPCI's Must-Know Tips to Protect Your Money and Identity
- by B2B Desk, 2024-12-18 06:58:21
Magicpin Introduces MagicNOW: 15-Minute Food Delivery on a Pilot Basis
- by B2B Desk, 2024-12-18 06:37:47
GST Council Likely to Consider Lowering Tax on Online Food Delivery Fees
- by B2B Desk, 2024-12-17 08:26:30
Subscribe now
x
![logo]()
