IMF FURTHER RAISES INDIA'S GROWTH PROJECTION TO 7% FOR 2024; FASTEST-GROWING

The International Monetary Fund (IMF), in its latest outlook, has raised India’s growth projections for 2024 from 6.8 per cent earlier to 7 per cent, with the country maintaining the fastest-growing status in emerging markets and developing economies.

- 

The IMF had earlier projected a growth rate of 6.5 per cent for 2024, revising it to 6.8 per cent and now 7 per cent. India continues to be the fastest-growing major economy.

For the year 2025, the IMF projected India’s growth rate at 6.5 per cent. It attributed robustness and strength in domestic demand and a rising working-age population behind its growth projections.

“Growth in India and China will account for almost half of global growth in 2024,” Gita Gopinath, First Deputy Managing Director of IMF and former Chief Economist at the IMF, said in an X post.