IMF 'corrects' maths, says India to be $5-trillion economy by FY27

CEA disputed IMF's earlier projections that showed goal to be achieved by 2028-29



Indivjal Dhasmana New Delhi
The International Monetary Fund (IMF) has “corrected” an error in its calculations to now project that India would become a $5-trillion economy by 2026-27, which is what the finance ministry has been saying of late. Last month, the data given by the Fund had shown that this could be achieved by only 2028-29, two years after the ministry's latest projections and a four-year delay over the original goal set by the government.

“IMF staff discovered a data input error that led to an error in calculating India's gross domestic product (GDP) denominated in US dollars, which was corrected,” Luis E Breuer, senior reside­nt representative — India, Nepal, and Bhutan, at the Fund, told Business Stan­dard in an emailed response. He said

First Published: May 20 2022 | 06:08 AM IST

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