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According to an IMF official, India will contribute 18% of global growth in five years

Published on October 23, 2023
Current Context: According to Krishna Srinivasan, the director of the Asia and Pacific Department of the IMF, India’s share of global growth will rise from 16% to 18% in the next five years, as India is expected to grow faster than other countries in the region.
According to an IMF official, India will contribute 18% of global growth in five years
  • He also said that India and China will jointly account for half of the world’s growth in 2023 and 2024.
  • He praised India’s strong government capital expenditure, continued consumption growth, and moderating inflation.
  • He also expressed confidence that India will meet its fiscal deficit target of 5.9% in FY24.
  • The IMF has projected India’s real GDP growth at 6.3% for FY23/24.

Question:

Q.1 What is the projected share of India in global growth in the next five years, according to an IMF official?
a. 16%
b. 18%
c. 20%
d. 22%
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