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

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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.

Kumud Sharma

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