Consider the following statements with respect to the projections made by the International Monetary Fund (IMF) in its  latest World Economic Outlook (WEO)

I.The International Monetary Fund (IMF) has raised its FY24 growth projection for India by 20 basis points to 6.3 per cent.

II.It has kept its global growth forecast unchanged at 2.5 per cent for 2023.

III.The IMF’s inflation projection for India has been revised upward to 5.5 per cent for FY24.

Which of the following statements is/are true ?

Solution

The International Monetary Fund (IMF) in its  latest World Economic Outlook (WEO) has raised its FY24 growth projection for India by 20 basis points to 6.3 per cent, citing stronger than expected consumption between April and June.   It has kept its global growth forecast unchanged at 3 per cent for 2023 and pared down the 2024 projection by 10 basis points to 2.9 per cent.   The IMF’s inflation projection for India has been revised upward to 5.5 per cent for FY24. It expects the inflation rate to remain in the range 2-6 per cent this financial year, and 4.6 per cent next year.