IMF Expects Indian Economy To Grow By 6.8% In FY23

The International Monetary Fund (IMF) expects India's real GDP growth to moderate to 6.8% and 6.1% in FY23 and FY24 respectively. The IMF executive board in its Article IV consultation with India noted the government's response to post-pandemic shocks and highlighted public debt sustainability risks. The Indian government differs from the IMF's position on the sustainability of its debt. The IMF also talked about a more ambitious and well-communicated medium-term fiscal consolidation, anchored on stronger revenue mobilisation and further improvement in expenditure efficiency, while high-quality spending on infrastructure, education and health is protected. IMF also observed that Further improvements in public financial management, fiscal institutions and transparency would help.

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