The International Monetary Fund (IMF) revised India’s growth forecast to 6.8 per cent from the previous 6.5 per cent. India maintains its position as the world’s fastest-growing economy, outpacing China, which is projected to grow at 4.6 per cent during the same period.

The latest edition of the World Economic Outlook released by the IMF ahead of the annual spring meetings of the IMF and the World Bank attributed the growth of India to robust domestic demand and a growing working-age population.

Meanwhile, growth in emerging and developing Asia is forecasted to decline from an estimated 5.6 per cent in 2023 to 5.2 per cent in 2024 and further to 4.9 per cent in 2025. This represents a minor upward adjustment compared to the January 2024 WEO Update.

“Growth in China is projected to slow from 5.2 per cent in 2023 to 4.6 per cent in 2024 and 4.1 per cent in 2025, as the positive effects of one-off factors –– including the post-pandemic boost to consumption and fiscal stimulus –– ease and weakness in the property sector persists,” the IMF said.

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