Three global agencies—the International Monetary Fund (IMF), the World Bank and the United Nations—have lowered their forecast on India’s growth in the current financial year. On April 11, the IMF trimmed its GDP growth forecast for India for FY24 by 20 basis points to 5.9 per cent and for FY25 by 50 basis points to 6.3 per cent. One hundred basis points constitute one percentage point. The forecast for the current fiscal is much lower than the Reserve Bank of India’s (RBI) projection of 6.5 per cent for FY24. Considering
