New Delhi: Amid several global challenges, including the ongoing War between Russia and Ukraine, there is good news for India before union Finance Minister Nirmala Sitharaman presented the Economic Survey today. The International Monetary Fund (IMF) has projected for next year that India's growth will be faster than other countries of the world in the next financial year. India will be ahead of China in terms of economic growth this year. India's economic growth rate is estimated to be 6.1 percent in the next financial year. The special thing is that according to the IMF estimates, the economic growth rate is going to be more than 6 percent only in India in the whole world.

The IMF on Tuesday said it expects some slowdown in the Indian economy in the next financial year and is projecting a growth rate of 6.8 percent for the current fiscal year ending March 31. While in the next financial year, this rate is likely to be 6.1 percent. The IMF today released a January update of its World Economic Outlook, according to which global growth is projected to fall from an estimated 3.4 percent in 2022 to 2.9 percent in 2023, then increase to 3.1 percent in 2024.

The IMF's World Economic Outlook update states that 'The growth rate in India will slow down from 6.8 percent in 2022 to 6.1 percent in 2023, before reaching 6.8 percent in 2024.' According to the report, growth in Emerging and Developing Asia is expected to pick up to 5.3 percent and 5.2 percent in 2023 and 2024, respectively, after China's economy will slow down by more than 4.3 percent in 2022. According to the International Monetary Fund, India is followed by China, where the rate is expected to be 5.2 percent. The global organization has predicted that India's growth rate will increase to 6.8 percent in the next year 2024 as well.

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