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Washington: The International Monetary Fund (IMF) on Tuesday projected that there could be some moderation in the growth of the Indian economy in the next financial year and it could be 6.1 percent, which is going to end on March 31, the growth of 6.8 percent in the current financial year. is less than The IMF released its January ‘World Economic Outlook’ on Tuesday. It said that global growth is also projected to decline from 3.4 per cent in 2022 to 2.9 per cent in 2023.
Although it can increase to 3.1 percent in 2024. Pierre-Olivier Goriches, Director of Research and Chief Economist at the Monetary Fund, said, “Our projections for growth are in fact unchanged from the October scenario for India. There was talk of achieving 6.8 per cent growth for the current financial year and this financial year will run till March. After this, it is expected to soften slightly for the next financial year and the growth will be at 6.1 percent. Updating the IMF’s World Economic Outlook, it was said, “Growth in India will come down from 6.8 percent in 2022 to 2023.” It is expected to rise again to 6.8 per cent in 2024 on the back of robust domestic demand, despite remaining at 6.1 per cent and adverse external conditions.
According to the report, growth in developing and emerging Asia is expected to accelerate to 5.3 per cent and 5.2 per cent in 2023 and 2024, respectively. Due to the weakness in China’s economy, it was reduced to 4.3 percent in 2022. Goriches said, “If we look at China and India together, their share in the world’s growth in 2023 will be about 50 percent.” This is a remarkable contribution.” He said in response to a question, “The positive views we had on India in our October forecast are still largely unchanged.”
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