The International Monetary Fund, IMF, today raised India’s Gross Domestic Product (GDP) growth projection to 6.8 percent for the financial year (FY) 2024-25. In its update to the World Economic Outlook, the IMF has raised 30 basis points from its January forecast of 6.5 percent.

In its report the IMF said, Growth in India is projected to remain strong at 6.8 percent in FY 2024-25, and 6.5 percent in FY 2025-26 with the robustness reflecting continuing strength in domestic demand and a rising working-age population. It also said that the Global growth, estimated at 3.2 percent in 2023, is projected to continue at the same pace in FY 2024-25 and FY 2025-26.

With this, India continues to be the fastest growing economy of the world, ahead of China’s growth projection of 4.6 percent during the same period.