IMF Raises India's FY24 Growth Forecast To 6.7%, Says Global 'Soft Landing' In Sight

The International Monetary Fund (IMF) has revised India’s growth forecast upwards amid better-than-expected resilience in its domestic demand, it said in its latest World Economic Outlook update for January. IMF now expects India’s GDP to grow by 6.7% in FY24 as against 6.3% forecast made in October 2023. For FY25 and FY26, India’s GDP growth is seen steady at 6.5%. The IMF forecast global growth of 3.1% in 2024, up two-tenths of a percentage point from its October forecast, and said it expected unchanged growth of 3.2% in 2025. IMF edged its forecast for global economic growth higher, upgrading the outlook for both the United States and China - the world's two largest economies - and citing faster-than-expected easing of inflation.