The International Monetary Fund (IMF) has revised its growth forecast for India's Gross Domestic Product (GDP), raising it to 6.3%, according to the 'World Economic Outlook' report published on Tuesday. This comes in contrast to a global economic slump that has seen worldwide growth estimates sliding down to three per cent.
The report highlighted the impact of increased consumption between April and June, which has significantly contributed to the robust outlook for Indian growth in 2023 and 2024. The IMF's upgrade acknowledges India's resilience amidst a challenging global economic landscape.
The IMF's revised estimate underscores India's potential as a key player in the global economy, even as it navigates the complexities of a worldwide economic downturn.
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