IMF

April 16, 2025 9:00 PM

Bigger Middle Class, Richer Middle Class

In 2015, the Kumars of Lucknow relied on public transport and an old scooter for their daily commute. Sanjay Kumar, a schoolteacher, and his wife, a small business owner, wished to buy a car—not just for comfort, but as a symbol of socioeconomic capital. Finally in 2023, after years of careful savings out of increased earnings, they proudly drove home a brand-new SUV. Their purchase meant more than just a transaction in national accounts — it was a testament to India's evolving middle class,...

March 26, 2025 10:52 AM

India’s GDP doubles to USD 4.2 trillion over the last decade: IMF

India’s Gross Domestic Product (GDP) has doubled in size over the last ten years, according to the latest data released by the International Monetary Fund (IMF). The data revealed that India’s GDP at current prices stood at USD 2.1 trillion in 2015 and is projected to reach USD 4.27 trillion by the end of 2025, marking a 100 per cent increase within a decade. The IMF further reported that India’s real GDP growth rate for the current year is 6.5 per cent, indicating strong and stable econ...

February 20, 2025 1:58 PM

India set to remain world’s fastest-growing economy in 2025-26: RBI bulletin

India’s economy is expected to maintain its status as the fastest-growing major economy in 2025-26, supported by sustained growth momentum and strategic fiscal measures, according to the Reserve Bank of India’s (RBI) latest monthly bulletin. Citing estimates from the International Monetary Fund (IMF) and the World Bank, the bulletin projects India’s GDP growth at 6.5% and 6.7%, respectively, for 2025-26. Despite global uncertainties, high-frequency indicators point to a sequential pick-up...

January 31, 2025 5:10 PM

India needs 8% growth to achieve Viksit Bharat by 2047: Economic Survey

India must sustain an average growth rate of 8% over the next two decades to realize its ambition of becoming a developed nation by 2047, according to the Economic Survey 2024-25 tabled in Parliament by Finance Minister Nirmala Sitharaman. The report underscores that this growth target is crucial for achieving the nation's vision of "Viksit Bharat" as it marks its centenary of independence. However, it cautions that global political and economic factors will inevitably influence India’s growt...

October 24, 2024 6:24 PM

Nepal’s Finance Minister Paudel Meets ADB Vice President

Nepal’s Deputy Prime Minister and Minister for Finance, Bishnu Paudel, is currently attending the annual meetings of the World Bank Group and the International Monetary Fund (IMF) in the United States. During his visit, he held a meeting with Yingming Yang, Vice President of the Asian Development Bank (ADB). According to the Nepali Embassy in Washington, they discussed the current capital of the Bank and explored future potential collaborations with Nepal. As reported by the state news agenc...

October 23, 2024 11:41 AM

IMF retains India’s GDP growth at 7%, warns of new global risks

The International Monetary Fund (IMF) on Tuesday maintained its projection for India’s GDP growth at 7% for the current fiscal year ending March 31, 2025. The latest estimates, published in the IMF’s World Economic Outlook (WEO), also forecast India’s growth rate to moderate to 6.5% in the fiscal year 2025-26. "In India, the outlook is for GDP growth to moderate from 8.2 per cent in 2023 to 7 per cent in 2024 and 6.5 per cent in 2025, because pent-up demand accumulated during the pandemic...

October 15, 2024 10:59 AM

IMF says global public debt to top $100 trillion, growth may accelerate

The world's total public debt is set to exceed $100 trillion this year for the first time, and may grow more quickly than forecast as political sentiment favors higher spending and slow growth amplifies borrowing needs and costs, the International Monetary Fund said on Tuesday. The IMF's latest Fiscal Monitor report showed global public debt will reach 93% of global gross domestic product by the end of 2024 and approach 100% by 2030. That would exceed its 99% peak during COVID-19. It would also...

September 27, 2024 12:33 PM

Pakistan wins more financing assurances from China, UAE, Saudi IMF official says

Pakistan has received "significant financing assurances" from China, Saudi Arabia and the United Arab Emirates linked to a new International Monetary Fund program that go beyond a deal to roll over $12 billion in bilateral loans owed to them by Islamabad, an IMF official said on Thursday. IMF Pakistan Mission Chief Nathan Porter declined to provide details of additional financing amounts committed by the three countries but said they would come on top of the debt rollover. "I won't go into the...

September 13, 2024 3:53 PM

Nine European countries protest against IMF resuming missions to Russia

Nine European countries protested on Friday against the International Monetary Fund's plans to resume missions to Russia, saying it would damage the reputation of the Fund to resume dialogue with a country that has invaded another. After Moscow's all-out invasion of Ukraine in February 2022, the IMF stopped its annual consultations with Russia, which the Washington-based lender of last resort does for all its members. But on Sept 2, the IMF's Russian executive director Aleksei Mozhin told Reut...

September 16, 2024 5:55 PM

IMF further raises India’s growth projection to 7% for 2024; country fastest-growing among major economies

The International Monetary Fund (IMF), in its latest outlook, has raised India's growth projections for 2024 from 6.8 per cent earlier to 7 per cent, with the country maintaining the fastest-growing status in emerging markets and developing economies. The IMF had earlier projected growth rate of 6.5 per cent for 2024, revising it to 6.8 per cent and now 7 per cent. India continues to be the fastest growing major economy. For the year 2025, the IMF projected India's growth rate at 6.5 per...