IMF | DD News

July 20, 2025 5:06 PM

India becomes global leader in fast payments as UPI processes 18.39 billion transactions in June: IMF

India has emerged as a global leader in fast payments, with the Unified Payments Interface (UPI) processing over ₹24.03 lakh crore through 18.39 billion transactions in June, the International Monetary Fund (IMF) said on Sunday. In June last year, UPI had recorded 13.88 billion transactions. The rise to 18.39 billion this year marks a sharp 32 per cent year-on-year (YoY) growth. Currently, UPI powers 85 per cent of all digital transactions in India and nearly 50 per cent of all real-time d...

July 11, 2025 12:04 PM

UPI impact: India now makes faster payments than any other country, says IMF

India now leads the world in faster payments, thanks to the widespread adoption of the Unified Payments Interface (UPI), according to a recent note from the International Monetary Fund (IMF). Since its launch in 2016, UPI has witnessed exponential growth, while several indicators of cash usage have shown a declining trend. UPI now processes over 18 billion transactions per month, dominating the electronic retail payments ecosystem in India, the IMF noted in its paper titled “Growing Retail Di...

May 9, 2025 10:29 AM

India to present case against Pakistan at IMF over bailout review

India is set to present its case before the International Monetary Fund (IMF) on Friday, urging a review of financial aid extended to Pakistan. Foreign Secretary Vikram Misri confirmed that India’s position would be officially conveyed during a board meeting of the IMF in Washington. “I’m sure our Executive Director will put forward India’s position,” Misri told reporters at a media briefing on Thursday. Misri did not mince words in his criticism of Pakistan’s use of IMF funds, sug...

May 6, 2025 3:28 PM

India set to overtake Japan as fourth-largest economy in 2025: IMF

India is on track to become the world’s fourth-largest economy in 2025, overtaking Japan, according to the latest World Economic Outlook released by the International Monetary Fund (IMF). The report estimates India’s nominal GDP will reach 4,187.02 billion dollars next year, marginally ahead of Japan’s 4,186.43 billion dollars. The IMF forecasts that India will continue to be the fastest-growing major economy, maintaining a growth rate above 6 per cent over the next two years. In contrast...

April 23, 2025 3:36 PM

AI economic gains likely to outweigh emissions cost, says IMF

Economic gains from artificial intelligence will boost global output by around 0.5% a year between 2025 and 2030, outweighing the costs of rising carbon emissions by the data centres needed to run AI models, the International Monetary Fund said on Tuesday. An IMF report released at its annual spring meeting in Washington nonetheless noted that those output gains would not be shared equally across the world, and called on policymakers and businesses to minimise costs to broader society. "Despit...

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...