Indian Economy Is Fastest Growing Economy In The World: IMF
Indian economy is the Fastest growing economy in the world, giving tough competition to China: IMF.
A senior official at the International Monetary Fund said on Tuesday that the Indian economy is doing well and remains one of the fastest growing in the world.
Anne-Marie Gulde-Wolf, deputy director of the IMF’s Asia and Pacific division, said in an interview that the Indian economy is doing well and remains the fastest-growing Asian economy.
The growth rate will be 5.9% in the fiscal year 2023-24.
We have revised our estimates to include the most recent data, said Anne-Marie Gulde-Wolf, Deputy Director of the IMF’s Asia and Pacific Department.
Released earlier this year. Based on this information, we estimate growth for the fiscal year 2023-2024 at 5.9%, slightly below our previous estimate of 6.1%.
What does Anne-Marie, Vice President of Asia-Pacific, say?
In response to his question, Gulde-Wolf said growth forecasts have actually been revised down due to expectations of slowing consumption growth.
He also said the IMF sees the investment as the main driver of growth.
This translates into double-digit credit growth, solid PMIs, and an ambitious government spending program. China’s growth rate in 2023 could be 5.2%.
China’s growth rate could be 5.2% in 2023 and 4.5% in 2024, according to the IMF. Growth in 2022 was 3%. The market has also weakened.
7% inflation this year.
At the same time, IMF chief economist Pierre-Olivier Gorinchas said the tightening of monetary policy by most central banks is starting to bear fruit. At the same time, inflation is returning to target.
According to the latest IMF forecasts, global growth will be 2.8% this year and 3% in 2024, he said.
CPI Inflation March 2023: Minor relief from inflation, inflation was recorded at 5.66 percent in March.
The effect of RBI’s efforts to reduce inflation is now visible. There has been a decrease in the rate of inflation in March.
Inflation has come down to 5.66 in March. This is mainly due to a marginal reduction in food and fuel prices.
Let us tell you that after strengthening in January, there was a slight decline in the retail inflation data in February. Inflation in February was 6.44 percent
