IMF raises GDB forecast for India

The International Monetary Fund (IMF) has revised its GDP growth forecast for India in the 2023-24 period upwards for the second time in three months. The latest World Economic Outlook report, disclosed on October 10, projects India's GDP to expand by 6.3 percent this year, surpassing its earlier prediction from late July by 20 basis points. The new forecast aligns more closely with the 6.5 percent growth anticipated by Indian authorities. The IMF maintains its outlook for the following year, foreseeing India's GDP to continue growing at a rate of 6.3 percent in 2024-25.