The IMF recently lowered its 2023 growth forecast for India to 5.9 per cent from 6.1 per cent citing slowness of domestic consumption and challenging external condition. In its annual World Economic Outlook, IMF also lowered the forecast for 2024-25 fiscal (April 2024 to March 2025) to 6.3 per cent from the 6.8 per cent it had predicted in January this year.
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