IMF cuts India’s growth forecast to 7.4% from 8.2%

New Delhi, July 27 (KMS): The International Monetary Fund (IMF) has lowered India’s growth forecast for the current fiscal year to 7.4 per cent from 8.2 per cent projected earlier.

In its World Economic Outlook for July, the IMF said for India, the downward revision by 0.8 per cent reflects mainly less favourable external conditions and more rapid policy tightening.

The Asian Development Bank had recently lowered the economic growth forecast for India for 2022-23 to 7.2 per cent.

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