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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?
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?
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?
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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