The International Monetary Fund (IMF) has reduced its gross domestic product (GDP) growth forecast for India for the current financial year (FY23) to 7.4%. The IMF has also reduced the growth forecast for FY24 to 6.1% as against 6.9% earlier.
Reason: Due to less favourable external conditions and more rapid policy tightening.
IMF Headquarters: Washington D.C.; Managing Director: Kristalina Georgieva; Chief Economist: Pierre-Olivier Gourinchas