The International Monetary Fund, in its latest World Economic Outlook report on Tuesday has revised India's economic growth forecast for the ongoing financial year FY22 to 9%. IMF forecasted India's real GDP growth at 9.5% in October 2021 and has downgraded it by 0.5 percentage points on the possible impact of the Omicron variant of Covid-19 on mobility restrictions and business activities. Besides, IMF has upgraded India's growth figures for FY23 and FY24 by 0.5 percentage points each, to 9% and 7.1%, respectively, compared to its October forecast. India's prospects for 2023 are marked up on expected improvements to credit growthand, subsequently, investment and consumptionbuilding on better-than-anticipated performance of the financial sector, IMF stated.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app