The country has become the world’s fifth largest economy and will soon become one of the world’s top three economies by 2027, said Gita Gopinath, Deputy Managing Director of the International Monetary Fund (IMF). Despite global macroeconomic conditions, the Indian economy is expected to continue to grow.

The IMF has raised its economic development forecast for the country for the fiscal year from 25 to 7 per cent, compared to the 6.8 per cent projected in April. This is reported by
IANS, a partner of TV BRICS.

The overall performance of the Indian economy is solid, reflecting strong public investment, which is the most important driver of growth.

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