BENGALURU: The International Monetary Fund (IMF) on Tuesday raised its growth forecast for India slightly, expecting the economy to grow at 6.1% in the current fiscal year.
It raised its expectation by 0.2 percentage point from its April projection, reflecting “momentum from stronger-than-expected growth” in the fourth quarter as a result of stronger domestic investment, the IMF said.
The growth prediction is, however, much lower than the Indian central bank’s projection of a 6.5% rise.
India’s economic growth accelerated to 6.1% in the March quarter, boosted by government and private capital spending, while the country’s growth in the fiscal year ended on March 31, 2022 was 7.2%, one of the highest among the world’s largest economies.
The IMF also slightly raised its global growth estimates for this year given a more resilient start to the year than expected, but the balance of risks to the outlook remained skewed to the downside.
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