AMN/ WEB DESK
International Monetary Fund (IMF) has retained India’s GDP growth rate at 7 percent during the current fiscal year ending March 31, 2025. In its latest World Economic Outlook, IMF said, India is expected to grow at 6.5 percent in the next fiscal year that is 2025-26.
Deloitte India’s latest Economic Outlook has also projected India’s economic growth to reach between 7 and 7.2 percent in the current fiscal. Dr. Rumki Majumdar, economist at Deloitte, highlighted that moderating inflation, record Kharif crop production, increased government spending, and growing investments in manufacturing are crucial drivers of growth.
IMF has raised the growth rate for US in 2024 to 2.8 percent from 2.6 percent in its July estimate. Global growth remained at 3.2 per cent this year and next. The growth rate for China was reduced to 4.8 percent from 5 percent previously.
IMF outlook of 190 countries is a mixed bag for the global economy with optimism on inflation but warnings over debt levels and increasing geopolitical and trade volatility. In particular, IMF said that continued tensions in West Asia threaten commodity prices and overall trade in the region.