India’s GDP growth will be good. This is being said by none other than the International Monetary Fund i.e. IMF. IMF has changed India’s growth projections. Now IMF has increased the growth estimate for the financial year 2024 to 6.7%, increasing it by 40 BPS i.e. 0.4%. In October last year, IMF had estimated India’s growth at 6.3%.
Growth estimates also increased for FY25 and FY26
IMF has also increased the growth estimates for FY25 and FY26 by 20 BPS i.e. 0.2%. It has estimated growth for the next two years at 6.3%. IMF said that due to strong domestic demand, the growth of the economy will remain good.
The International Monetary Fund has also changed its global growth estimates. The growth estimate for 2024 is 3.1% and the growth estimate for 2025 is 3.2%. The growth will be 0.2% higher than the October 2023 estimate. There will be better than expected growth in many growing economies including America. However, world growth in 2024-25 will be less than the historical 3.8% from 2000 to 2019. During this period, due to inflation, policy rates will also remain high.
