As per the recent update from the IMF (July 2022), what is India’s growth forecast for 2022-23? [A] 6.8 %[B] 7.0 %[C] 7.4 %[D] 8.0 %
Option [C] 7.4 % : The International Monetary Fund (IMF) has cut India’s growth forecast for 2022-23 (FY23) to 7.4 per cent, citing less favourable external conditions and fast policy tightening by RBI. In its update to the April World Economic Outlook, the IMF said that global recession in 2022 was ruled out with a growth estimate of 3.2 per cent. Asian Development Bank recently slashed its growth projection for India to 7.2 per cent for FY23, from 7.5 per cent.
