- India’s economic growth forecast has been reduced from 8.2% to 7.4%. The International Monetary Fund (IMF) released India’s growth prediction in its World Economic Outlook on July 26, 2022.
- India’s economic growth forecast was estimated to be 8.2% in April.
- IMF reduced the estimate to 7.4% due to vulnerability of Indian economy considering the external shocks and rapid monetary policy tightening.
- IMF recommends the policymakers to prioritize suggested policymakers prioritize heal the inflation through monetary policy tightening.
- India’s growth forecast for fiscal year 2023-24 has also been reduced by 0.8 percent point, to 6.1% due to increasing economic risks.
- The Reserve Bank of India (RBI) has estimated India’s growth to 7.2% in 2022-23.
- Asian Development Bank has decreased India’s growth forecast to 7.2% for 2022-23.
Tags:
Economics
