Question
India's economy is projected to growth according to
IMF: 1) India's economy is projected to grow at 6.3 percent in FY 24. 2) India's economy is projected to grow at 6.3 percent in FY 25. 3) India's current account deficit is expected to improve to 1.8 percent of GDP in FY24 Which of the following statements is incorrect?Solution
Growth is expected to remain strong, supported by macroeconomic and financial stability. Real GDP is projected to grow at 6.3 percent in FY2023/24 and FY2024/25. Headline inflation is expected to gradually decline to the target although it remains volatile due to food price shocks. The current account deficit is expected to improve to 1.8 percent of GDP in FY2023/24 as a result of resilient services exports and, to a lesser extent, lower oil import costs.Â
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