NEW DELHI, Oct 12 (NNN-PTI) – The International Monetary Fund (IMF), yesterday, cut its projection of India’s economic growth in 2022 to 6.8 percent.
This was the second time that the IMF lowered India’s growth forecast this year.
In July, the IMF projected a gross domestic product (GDP) growth of 7.4 percent for India, in the fiscal year beginning Apr, 2022. The forecast was lower than 8.2 percent projected in Jan this year.
India grew by 8.7 percent in the 2021-22 fiscal year (Apr, 2021 to Mar, 2022).
In its annual World Economic Outlook report, released yesterday, the IMF said that, the outlook for India is growth of 6.8 percent in 2022, a 0.6 percentage point slide, from the July forecast, reflecting a weaker-than-expected outturn, in the second quarter, and a more subdued external demand.– NNN-PTI
