IMF Cuts India's GDP Growth Forecast To 8.2% for FY23

Daily Current Affairs / IMF Cuts India's GDP Growth Forecast To 8.2% for FY23

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Category : Business and economics Published on: April 21 2022

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The International Monetary Fund (IMF) slashed India's gross domestic product (GDP) forecast by 80 percentage points to 8.2 per cent for financial year 2022-23.
In its World Economic Outlook report for the month of April 2022, the IMF said expectation of weaker domestic demand owing to higher oil prices will weigh on consumption.
The Reserve Bank of India (RBI), for instance, has pegged the GDP growth for FY23 at 7.2 percent.
In January, the IMF had said India's economy would grow 7.1 percent in FY24.