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MF cut India's economic growth forecast from 80 bps to what percentage?

Correct Answer : Option (A) - 7.4%

The International Monetary Fund (IMF) on Tuesday(26th July 2022) slashed India’s growth forecast for 2022-23 (FY23) by 80 basis points to 7.4 per cent, citing less favourable external conditions and rapid policy tightening by the central bank.
In its update to the April World Economic Outlook, the IMF said that though a global recession in 2022 was ruled out with a growth estimate of 3.2 per cent, the balance of risks was squarely to the downside, driven by a wide range of factors that could adversely affect the global economic performance.
“The risk of recession is particularly prominent in 2023, when in several economies growth is expected to bottom out, household savings accumulated during the pandemic will have declined, and even small shocks could cause economies to stall.

For example, according to the latest forecasts, the United States will have real GDP growth of only 0.6 per cent in the fourth quarter of 2023 on a year-over-year basis, which will make it increasingly challenging to avoid a recession,” it said..

Source : Business Standard

Published On : July 27, 2022
Category : Indian Economy