Upward march: IMF raises India's GDP growth forecast for FY25 to 7% - The Economic Times
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The International Monetary Fund (IMF) has raised India's GDP growth projection for FY25 to 7% from 6.8% forecasted in April, maintaining the country's fastest-growing economy status. The upgrade reflects improved prospects for private consumption, particularly in rural areas. The IMF also highlights risks related to inflation, currency volatility, and trade tensions, emphasizing the importance of prudent policy decisions and multilateral cooperation. The growth forecast for emerging markets and developing economies is revised to 4.3% from 4.2% earlier. The IMF projects that growth in India and China will account for almost half of global growth in 2024. India's economy grew 8.2% in FY24. The Reserve Bank of India (RBI) had revised upwards the country's GDP forecast to 7.2% last month. Fitch Ratings also upped India's growth forecast for FY25 to 7.2%. The IMF cautions against the misuse of inward and domestically oriented policies that compromise the ability to tackle global challenges, such as climate change, underscoring the importance of multilateral cooperation and trade.

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https://m.economictimes.com/news/economy/indicators/upward-march-imf-raises-indias-gdp-growth-forecast-for-fy25-to-7/articleshow/111792050.cms