The International Monetary Fund (IMF) has raised India's economic growth forecast for the current fiscal year to 6.3% from 6.1%. The IMF also expects retail inflation in India to rise to 5.5% in 2023/24 before easing to 4.6% in 2024/25.
The IMF attributed the upward revision in growth forecast to stronger-than-expected consumption during April-June. The Reserve Bank of India has projected inflation at 5.4% and GDP growth at 6.5% for the current fiscal year.