IMF Report On Indian Economy

Credit rating agency Acuite Ratings and Research on Monday reiterated India's gross domestic product (GDP) growth estimate for FY23 at 7 per cent

/ -- India became the fifth largest economy of the world, overtaking the UK and is set to become the third largest by 2029. According to the IMF (International Monetary Fund), India is expected to leap further ahead of the UK up to 2027 - making it the fourth largest economy by that time. The recent geo-political re-alignments coupled with global supply chain issues provide an opportunity for the country to become a global manufacturing hub. Organizations are focusing on de-risking their supply chain dependencies and are exploring newer markets to bolster their manufacturing capabilities. This shift creates a conducive environment for India, which is the most suited candidate to establish itself as the next best destination owing to its strategic geographical location, infrastructure and skilled workforce. Sharing his views, Alexander Reisch, Managing Director, IPM India,opined, "India is poised to become the preferred destination for manufacturing and is paving its way to becoming a

An order stated that the Appointments Committee of the Cabinet has approved the appointment of Subramanian, who is currently professor (finance) at the Indian School of Business

The IMF had cut India's gross domestic product (GDP) growth projection for 2022 to 8.2 per cent from 9 per cent in its World Economic Outlook report in April

In the wake of the geopolitical crisis and rising prices, India's recovery remains dodgy

The Centre's debt was at 58.8 per cent of GDP in FY21. It fell slightly to 57.6 per cent in the first quarter of FY22

In its annual World Economic Outlook, the Washington-based global financial institution said that the Indian economy is expected to grow by 6.9% in 2022

Irrespective of whether it is sequential or year-on-year, the inference remains the same; South Africa's 50% contraction is "annualised" and is incomparable to India's 24% fall

The IMF projection, 1.3 percentage point lower than its earlier estimates, is less than the five per cent projected by the official advance estimates

Despite some improvement in reported fiscal deficits, debt as a share of GDP remains little changed over the past decade partly due to increases in off-budget financing, IMF said

While the Fund is critical of the note ban and MSP on farm products, among other things, it is generally bullish about the prospects of 7.75% growth in the medium term, writes T N Ninan