Snippets Column

IMF Upgrades India’s Growth Forecast to 6.7% for FY24, Citing Robust Q2 GDP and Strong Medium-Term Potential

In its World Economic Outlook Update (WEO Update – Jan. 2024), the International Monetary Fund has revised upward India’s growth forecast for FY24 to 6.7% (from 6.3%) on account of the robust Q2 GDP outturn:

The IMF has revised upward medium-term (potential) GDP growth to 6.5% (from 6.3%) reflecting strong public investment, positive labor market outcomes in the latest PLFS report, and adjustments to our model.

IMF continues to view the external sector as strong and is narrowing its current account deficit projection for FY 24 from 1.8% (of GDP) to 1.6%. India continues to be the fastest-growing economy among the major economies of the world.

Srushti Sharma

Recent Posts

‘In Kabul, A Cat Has More Freedom Than A Woman’: Revisiting Women’s Struggles Under The Taliban

The Taliban’s regime has since imposed over 100 laws restricting women's rights, stripping them of…

9 hours ago

PM Modi’s Gifts: A Glimpse Of India’s Cultural Heritage In Global Diplomacy

These gifts to world leaders reflect the diverse traditions, arts, and crafts of India, emphasizing…

12 hours ago

Dr Rajeshwar Singh Calls For Bold Goals To Make India A Global Power By 2047

Dr Singh stressed the importance of reaching a GDP of $15 trillion by 2047 to…

12 hours ago

Gautam Adani Faces Indictment In US: Legal Expert Vijay Aggarwal Dismisses Immediate Repercussions

Criminal lawyer Vijay Aggarwal weighed in on the charges against Adani. He believes the indictment…

12 hours ago

Adani Group Stocks Recover As Sensex nd Nifty Post Gains

After a major sell-off earlier in the week, Adani Group stocks, led by Ambuja Cements…

14 hours ago

Sensex Soars 1,961 Points, Nifty Gains 557 In Broad-Based Market Rally

A sharp rally in financial stocks and encouraging US labor market data fueled the uptrend.…

14 hours ago