IMF gave a feel-good statement on India's economy, said - only hope from India amid worldwide recession

The International Monetary Fund (IMF) has cut India's economic growth forecast. However, an IMF official says that the situation in India will be better in India than in other countries. An IMF official said on Tuesday that today every country is slowing down in terms of economic growth, but it has not affected India. The official of the international body said that India is in a better place than other countries. 

IMF official estimates

Krishna Srinivasan, director of the IMF's Asia and Pacific Department, said in an interview to news agency PTI that the global situation is a big problem right now. He said that even though inflation is increasing, but still the pace of growth is slowing down in many parts of the world.

 IMF pares India's growth forecast

Let us tell you that this statement has come at a time when the IMF has reduced India's economic growth forecast for the year 2022 to 6.8 percent. Whereas earlier in July, India's growth rate was estimated to be 7.4 percent. The IMF official said that this year or next year many countries responsible for the global economy will be in the grip of recession. He said that if inflation is increasing rapidly, then it can become more widespread. 

'Things will be better in India'

The official said that today where the pace of almost every country is slow. So right there, India is doing better. Rice ranks brighter than other countries. Srinivasan has expressed concern about the world's three largest economies, the US, the European Union and China. He said the situation would continue to deteriorate here.

Inflation forecast

The IMF has said that inflation in India is projected to be 6.9 percent in 2022-23. Inflation in India may come down to 5.1 percent in 2023-24.