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- The International Monetary Fund (IMF) maintained its projection for India’s GDP growth at 7% for the current fiscal year.
- IMF’s World Economic Outlook (WEO) forecasted India’s growth rate to moderate to 6.5% in the fiscal year 2025-26.
- The GDP growth projection has decreased from 8.2 per cent in 2023 to 7 per cent in 2024 and 6.5 per cent in 2025.
- However, China’s growth outlook 2024 was lowered to 4.8% from 5%.
- IMF also updated the forecast for the US. It raised the 2024 growth estimate to 2.8%, up from the previous forecast of 2.6%.
- Global growth will remain steady at 3.2% for both 2024 and 2025.
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