Indian economy.
– Photo : amarujala
Expansion
India's gross domestic product (GDP) growth rate is projected to decline from 8.2 percent in 2023 to seven percent in 2024. It will further reduce to 6.5 percent in 2025. The International Monetary Fund (IMF) made this estimate on Tuesday.
The IMF said that the pent-up demand caused by the Covid pandemic has ended as the economy is regaining its capacity. According to the IMF, the fight against inflation in the global economy has been largely won, although price pressures still remain in some countries.
Core inflation reached a high of 9.4 percent year-on-year in the third quarter of 2022, after which it may fall to 3.5 percent by the end of 2025. If this happens, it will be lower than the average level of 3.6 percent between 2000 and 2019.
The IMF, in its annual World Economic Outlook released in Washington, projected that global economic growth will remain stable at 3.2 percent in 2024 and 2025. According to IMF chief economist Pierre-Olivier Gourinchas, the global economy remained unusually combative in getting inflation under control.
He said that the growth rate of the global economy will remain more or less stable at 3.2 percent in 2024 and 2025. “However, the growth rate of some low-income countries and developing economies may decline significantly.”
