♦ The International Monetary Fund (IMF) maintained its projection for India’s GDP growth at 7% for the current fiscal year (2024-25). It also forecast India’s growth rate to moderate to 6.5% in the fiscal year 2025-26.

♦ The latest estimates, published in the IMF’s World Economic Outlook (WEO).

♦ The report also updated the forecast for the US, raising its 2024 growth estimate to 2.8%, up from the previous forecast of 2.6%, and its 2025 projection to 2.2%, compared to the July estimate of 1.9%.

♦ Global growth remains steady at 3.2% for both 2024 and 2025. However, China’s growth outlook for 2024 was lowered to 4.8% from 5%, with no change to the 2025 projection of 4.5%.