IMF cuts India's growth forecast to 9% in FY22
Financial Express Mumbai|January 26, 2022
THE INTERNATIONAL MONETARY Fund (IMF) has cut India's economic growth forecast to 9% for the current fiscal year ending March 31, joining a host of agencies which have downgraded their projections, on concerns over the impact of a spread of the new variant of coronavirus on business activity and mobility.

In its latest update of the World Economic Outlook on Tuesday, the Washington-based international financial institution, which had in October last year projected a 9.5% GDP growth for India, put the forecast for the next fiscal FY23 (April 2022 to March 2023) at 7.1%.

Continue reading your story on the app

Continue reading your story in the newspaper

MORE STORIES FROM FINANCIAL EXPRESS MUMBAIView All

Twitter stake: SEC sent query to Musk last month

THE US SECURITIES and Exchange Commission sent a query last month to Elon Musk over how he disclosed his major stake in Twitter - the clearest signal yet that the Wall Street regulator is scrutinising his efforts to buy the social network.

1 min read
Financial Express Mumbai
May 28, 2022

Economy is losing steam, cautions RBI

THE RESERVE BANK of India (RBI) on Friday expressed concerns that the economy might be losing steam, pointing out that high frequency indicators are beginning to reflect some loss of momentum. Moreover, high global prices of crude oil, metals and fertilisers had already impacted the terms of trade, resulting in wider trade and current account deficits, the central bank observed.

2 mins read
Financial Express Mumbai
May 28, 2022

Fire incidents will not hamper growth of EV industry: Okinawa MD

THE RECENT-FIRE incidents, involving electric scooters of several companies, will not impact growth of the electric vehicle (EV) industry, but will compel manufacturers to improve their processes, Okinawa Autotech's founder and managing director Jeetender Sharma, told FE.

1 min read
Financial Express Mumbai
May 28, 2022

Monsoon to hit Kerala coast in 2-3 days: IMD

Average reservoir water level up 8% on year

1 min read
Financial Express Mumbai
May 28, 2022

More than 15,000 fair price shops serving as financial service agents

OF THE UBIQUITOUS fair price shops (FPSes) in the country, as many as 15,300 are now serving as financial services agents for the masses, a move that will cataylse the process of financial inclusion and boost digital connectivity in remote areas.

1 min read
Financial Express Mumbai
May 28, 2022

At 590 km, BMW's New i4 To Be India's Longest Range Electric Car

Even the best and most expensive electric cars in India right now have a driving range of 400-500 km.

1 min read
Financial Express Mumbai
May 27, 2022

Moody's Trims 2022 India Growth Forecast To 8.8%

Retains outlook for 2023 at 5.4%

2 mins read
Financial Express Mumbai
May 27, 2022

Chinese tech firms forced into 'blood listings' as capital dries up

A GROWING NUMBER of Chinese tech start-ups, once the darlings of equity markets are willing to list shares publicly in China at valuations lower than during private funding rounds in so-called blood listings.

1 min read
Financial Express Mumbai
May 27, 2022

Land deals double in one year, report shows

REAL ESTATE DEVELOPERS and other entities are back to buying land parcels, with 28 separate land deals transacted in just the first five months of 2022, cumulatively accounting for over 1,237 acres across the country.

3 mins read
Financial Express Mumbai
May 27, 2022

Cement shortage to be bridged by supplies from plants in South

TO MODERATE ELEVATED cement prices, the is in talks with companies from southern India who have underutilised capacity and can ramp up production to cater for states facing a shortage.

1 min read
Financial Express Mumbai
May 27, 2022
RELATED STORIES

KRISTALINA GEORGIEVA: ‘Been There, Done It'

Growing up in communist Bulgaria turned the IMF’s managing director into a committed capitalist. Now she wants to help make capitalism better

10+ mins read
Bloomberg Markets
October - November 2020

This Time Really is Different

CARMEN REINHART and KENNETH ROGOFF studied eight centuries of economic data to show how similar most financial crises are. We asked them what they think about 2020

10+ mins read
Bloomberg Markets
June - July 2020

PMC fact.8 signature

LOUDSPEAKER

10 mins read
Stereophile
May 2020

Richest Countries Agree To Freeza Poorer Nations' Debt

The world’s richest countries agreed to freeze poor nations’ debt obligations, shortly after nearly 20 European and African leaders made a joint appeal for a massive international effort to boost Africa’s coronavirus response, saying that “only a global victory that fully includes Africa can bring this pandemic to an end.”

4 mins read
Techlife News
April 18, 2020

What If Whatever It Takes Is Not Enough?

Countries must overcome nationalist impulses and mistrust to coordinate a global response to the virus

6 mins read
Bloomberg Businessweek
March 23, 2020

Economics – Conciliator-In-Chief

Can Christine Lagarde heal the rifts at the European Central Bank left behind by Super Mario?

6 mins read
Bloomberg Businessweek
November 11, 2019

G20 Summit: Terror Trumps Economy

It was hoped that the leaders at the G20 summit in Turkey would find a way out of the global slowdown in growth, but the events in Paris left them little time for that.

7 mins read
FRONTLINE
December 11, 2015

IMF AND THE SRI LANKA BAILOUT DRAMA

How many more International Monetary Fund programmes will Lanka need to put itself through to reach that manna of economic stabilisation?

4 mins read
The Morning Standard
May 07, 2022

Poverty and politics of freebies

In reforming the system of free food, government should take a clue from Vajpayee government's measures to use scarce resources wisely

4 mins read
The Indian Express Delhi
April 25, 2022

OFFICIAL TITLE FOR TOM CRUISE STARRER 'MISSION IMPOSSIBLE: 7' UNVEILED

The latest instalment from the Tom Cruise starrer Mission Impossible' franchise will be called 'Mission: Impossible - Dead Reckoning Part One'.

1 min read
The Daily Guardian
April 30, 2022