Statsguru: IMF to World Bank, six charts explain growth forecast revisions

Business Standard guides you through the numbers you need to know to make sense of the headlines

Reports released last week by the International Monetary Fund (IMF) revised global growth forecasts downwards in the wake of the Ukraine-Russia conflict. Earlier this month, the Reserve Bank of India (RBI), in its first monetary policy review of the fiscal year, had revised growth estimates for 2022-23 down by 60 basis points (bps), whereas the inflation forecast was revised to 5.7 per cent for this fiscal—closer to the 6 per cent ceiling. 

While the central bank had projected growth of 17.2 per cent in the first quarter of 2022-23 in February 2022, the latest statement witnessed a revision of 1