The International Monetary Fund (IMF), in the World Economic Outlook released, has revised India’s FY25 GDP growth forecast for 2024-25 to 6.8% from 6.5%. IMF projected based on strong domestic demand and a rising working-age population.

The International Monetary Fund (IMF), also revised upwards the growth figure for 2023-24 to 7.8% from 6.7%.

The Reserve Bank of India, the country’s central bank, estimates the economy to grow at 7% in the current financial year that started on April 1.

The International Monetary Fund (IMF) was created, at the Bretton Woods Conference, in the wake of World War II to manage the global regime of exchange rates and international payments. Since the collapse of fixed exchange rates in 1973, the fund has taken a more active role, especially in developing countries. Unlike the World Bank, which was designed as a lending institution focused on longer-term development and social projects, the IMF was conceived as a watchdog of the monetary and exchange rate policies vital to global markets.