The IMF (International Monetary Fund) has also raised its growth forecast for India to 6.3% in 2023 and 2024.
Banking & Finance
The International Monetary Fund (IMF) has raised its economic growth forecast for India for the current financial year to 6.3%. Unveiling the bi-monthly monetary policy review on October 6, RBI Governor Shaktikanta Das said the domestic economy displays strength as well as resilience. Meanwhile, the Reserve Bank of India (RBI) has retained its GDP forecast for 2023-24 at 6.5% and said India is set to become the world's growth engine. The RBI governor cited various factors for this optimism, including strengthening factors. demand, flexible manufacturing, growth in the service sector and increased private sector investment.
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