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IMF reduced India's economic growth rate

Category : Business and economics
Published on: October 13 2022 Share on facebook

  • The International Monetary Fund (IMF) on Tuesday trimmed its FY23 growth forecast for India by 60 basis points from its July projection of 7.4 per cent to 6.8 percent.
  • This is a steep cut in comparison to its previous forecast of 7.4%, that it had given out in July.
  • For the next year 2023, India has been projected to grow at 6.1%.
  • Last week, the World Bank also downgraded India's growth forecast to 6.5% for fiscal year 2022-23, a drop of 1% from its previous June 2022 projection.
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