How Well Do You Know About IMF's Projections for India's Economic Growth?

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Questions and Answers

What is the reason for the downward revision in India's projected growth rate for the fiscal year 2023-24, according to the IMF?

  • The COVID-19 pandemic's impact on the economy
  • Lack of foreign investment in India
  • Historical numbers being better than expected (correct)
  • Trade tensions with other countries

What is the projected growth rate for India for the next fiscal year, according to the IMF?

  • 7.2%
  • 5.9%
  • 6.3% (correct)
  • 6.8%

What is the outlook of the IMF on India's economy?

  • Neutral
  • Pessimistic
  • Optimistic (correct)
  • Uncertain

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Study Notes

  • IMF projects India's economy to grow by 5.9% for the fiscal year 2023-24.
  • This is a downward revision of 0.2 percentage points from the previous forecast.
  • IMF estimates a 6.3% growth rate for India for the next fiscal year.
  • This is a downward revision of 0.5 percentage points from the last forecast.
  • The down revision is due to historical numbers being better than expected.
  • The IMF maintains an optimistic outlook on India.
  • Global output growth is projected to slow down in 2023 and pick up in 2024.
  • IMF economist Daniel Leigh said India has a strong economy necessary for higher living standards and job creation.
  • The pent-up demand for consumption is expected to be less due to the better-than-expected performance in 2020-21.
  • The growth numbers were released as part of the World Economic Outlook report.

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