IMF increases India’s economic growth rate estimate to 6.8 percent in 2024 – ..

There is good news on the economy front. After Moody’s, the International Monetary Fund (IMF) has increased the estimate of India’s economic growth rate in the year 2024 from 6.5 percent to 6.8 percent. However, China’s economic growth rate is estimated to be 4.6 percent.

The International Monetary Fund said in the latest edition of ‘World Economic Outlook’ released on Tuesday that India’s economic growth rate is estimated to be 6.8 percent in the year 2024 and 6.5 percent in the year 2025. This estimate of IMF is better than the estimate of India’s gross domestic product (GDP) growth of 6.5 percent for 2024 in the January report.

IMF has said in its report that thus India remains the fastest growing economy in the world. However, China’s growth rate during the same period is estimated to be 4.6 percent. Apart from this, according to the report, the global economic growth rate is expected to continue at the same pace in the year 2024 and 2025 also. The estimated global growth rate in the year 2023 is 3.2 percent. The International Monetary Fund has released this report before the annual spring meetings of the IMF and the World Bank.

It is noteworthy that recently rating agency Moody’s and Asian Development Bank have increased the growth rate estimates for the year 2024. At the same time, the Reserve Bank of India (RBI) has estimated the economic growth rate to be seven percent in the financial year 2024-25.