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IMF World Economic Outlook: Consumption to drive India’s growth in the near term

With exports slowing down and only a tepid rise in investment demand, consumption will continue to be the mainstay of Indian growth

October 12, 2022 / 12:28 PM IST
IMF World Economic Outlook: Consumption to drive India’s growth in the near term

IMF (Source: Reuters/File)

Highlights  IMF forecasts India’s GDP growth at 6.8 percent in the current fiscal year and 6.1 percent in 2023-24  Investment demand will pick up, but will be nowhere near the peaks reached earlier  Export growth will falter due to the slowdown in the global economy  Inflation is forecast at 6.9 percent in 2022-23 and 5.1 percent in 2023-24  The fiscal deficit and government debt will remain high for the foreseeable future  India’s share of the world economy will continue to grow  The International Monetary Fund’s latest...

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