IMF Projects India to be Fastest Growing Economy in the World

The International Monetary Fund (IMF) in its flagship World Economic Outlook projected that India will be the fastest-growing economy in the world amid financial sector turmoil, high inflation, ongoing effects of the Russia-Ukraine war, and three years of COVID.

IMF on Tuesday lowered its growth projection for 2023-24 to 5.9 percent from 6.1 percent earlier but despite a significant drop, India continues to be the fastest-growing economy in the world, the World Economic Outlook figures revealed. The IMF projects India's inflation to slow to 4.9 percent in the current year and further to 4.4 percent next fiscal year.