NEW DELHI, July 16 (Xinhua) -- The International Monetary Fund (IMF) Tuesday raised India's GDP growth forecast for 2024-25 to 7 percent from 6.8 percent projected in April.
The revision was made in IMF's July 2024 World Economic Outlook report released on Tuesday.
"The forecast for growth in India has also been revised upward, to 7.0 percent, this year, with the change reflecting carryover from upward revisions to growth in 2023 and improved prospects for private consumption, particularly in rural areas," IMF said in the report.
The IMF expects India's GDP growth to slow down to 6.5 percent in 2025.
GDP expanded at 8.2 percent in 2023 in India, higher than the 7 percent recorded in 2022. ■