Indian economy continues to perform well, remains one of the fastest growing in world: IMF

IMF on Tuesday cut India's GDP growth forecast for the financial year 2023-24 by 20 basis points to 5.9 percent.

The latest forecast is lower than the RBI's projection of 6.4 per cent.

But, India will continue to be the fastest-growing economy in the world.

"The Indian economy continues to perform well and remains the fastest growing Asian economy, and one of the fastest growing in the world," Anne-Marie Gulde-Wolf, Deputy Director for Asia and Pacific Department, IMF, told PTI in an interview.

"However, we have revised our projections to incorporate recent data, which were released earlier this year. Based on this information, we now project that growth in FY 2023-24 will be 5.9 per cent, only slightly lower than our previous projection of 6.1 per cent in the January WEO, on the back of an expected slowdown in consumption growth," she said.