IMF on Indian GDP
The International Monetary Fund has revised its projection for India’s GDP growth in the fiscal year 2025 (FY25). The organization raised it by 30 basis points (bps) to 6.8%, up from the earlier estimate of 6.5% made in January.
This adjustment reflects the robust domestic demand and the expanding working-age population in the country, as highlighted by the organization.
“Growth in India is projected to remain strong at 6.8% in 2024 and 6.5% in 2025, with the robustness reflecting continuing strength in domestic demand and a rising working-age population,” said the organization in its latest edition of the World Economic Outlook.
Global economic outlook
The IMF anticipates gradual yet consistent economic expansion worldwide this year, spearheaded by the United States. Despite hurdles like elevated inflation, subdued demand in specific areas, and geopolitical strains, the IMF forecasts a global real GDP growth rate of 3.2% for both 2024 and 2025.
Pierre-Olivier Gourinchas, the organization’s chief economist, underscored the global economy’s resilience, pointing out that numerous nations have rebounded from the economic slump induced by the pandemic at a faster pace than initially projected.
