IMF raise GDP growth forecast for India to 7.5% for FY2020

Indian economy benefiting from lower oil prices and a slower pace of monetary tightening than previously expected

The International Monetary Fund (IMF) has released the update of the World Economic Outlook (WEO) projecting higher GDP growth for India at 7.5% in FY2020 and also projected GDP growth to accelerate to 7.7% in FY2021. The GDP growth estimate for FY2020 is raised upwards from 7.4% growth projected in October 2018.

The IMF expects India's GDP growth to surge to 7.3% in FY2019 from 6.7% in FY2018.

As per the IMF update of WEO, India's economy is poised to pick up in 2019, benefiting from lower oil prices and a slower pace of monetary tightening than previously expected, as inflation pressures ease.

 

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