“Very strong economy…,” IMF division chief Daniel Leigh on India’s growth trajectory

International Monetary Fund division chief Daniel Leigh on Tuesday reposed faith in the Indian economy and said that it is a “very strong economy.”

He said that India is one of the bright spots in the global economy right now with a high growth rate. “Yes, we have a growth rate for India which is 6.8 in 2022. Let’s not forget this is one of the bright spots in the global economy right now. Such a high growth rate and it is moderating down to 5.9 with a -.2 revision compared to January, what’s happening here is also a set of historical revisions,” said Leigh.

IMF on Tuesday lowered its growth projection for 2023-24 to 5.9 per cent from 6.1 per cent earlier but despite a significant drop, India continues to be the fastest-growing economy in the world, the World Economic Outlook figures revealed.