IMF raises India's growth forecast to 6.3 %; PM Modi says India is global bright spot powered by strength & skills of people

File Pic Prime Minister Narendra Modi has said that powered by the strength and skills of the people, India is a global bright spot, a powerhouse of growth and innovation.

Reacting to International Monetary Fund IMF's report forecasting India's economic growth for the current fiscal year to 6.3 per cent from 6.1 per cent, in a social media post, Mr. Modi said the government will continue to strengthen the journey towards a prosperous India, further boosting the reforms trajectory.

IMF yesterday raised India's GDP projection to 6.3 per cent even as it slashed the global growth forecast to three per cent. 

IMF's World Economic Outlook said, growth in India is projected to remain strong at 6.3 per cent in both 2023 and 2024, with an upward revision of 0.2 percentage points for 2023, reflecting stronger-than-expected consumption from April to June.