IMF likely to slash FY23 GDP growth forecast for India to 8-8.3%

Its FY23 projection would still be better than many

The International Monetary Fund (IMF), in its next World Economic Outlook report, is likely to cut its growth forecast for India to 8-8.3 per cent from the current 9 per cent for fiscal year 2022-23, a source familiar with the matter said. The IMF report is scheduled to be released on April 19.

In its January report, the multilateral institution had raised India’s gross domestic product (GDP) growth forecast for FY23 to 9 per cent from 8.5 per cent. It had, however, slashed the country’s FY22 GDP growth forecast to 9 per cent from 9.5 per cent, citing disruptions due to