India grows faster than any other economy in the world and surpasses China

At 6.1%, India will be fastest growing economy, projects IMF ,China at 5.2%

India remains the fastest growing economy in the world with current estimates surpassing overall growth in emerging and developing Asia

The International Monetary Funds (IMF) on 31/1/2023 release a latest protections on the world economics growth and the predicted of a decline in the Indian economy’s from 6.8 % in the years of 2022to 6.1 % in the year of 2023. FY 2024.

The global economics projected to the contract by 2.9 % in the next fiscal, down from 3.4 % in the current fiscal till March and it is predicted to the growth of 3.1 % in the year of FY2024. India remains the fastest growing economy in the world with current projections surpassing growth in emerging and developing Asia as well as projections on China’s economy. Growth in China is forecast to accelerate to 5.2 percent in 2023 amid easing of COVID-19 restrictions, and then decline to 4.5 percent in 2024

India ,china accounts for the nearly half of the global growths in the year of 2023. The outlook in the emerging and developing to the Asia is positively with the growths and expected to the percent is 4.3 % to 5.3 %

Growth is projected to increase modestly for emerging market and developing economies from 3.9 percent in 2022 to 4 percent in 2023, while advanced economies are expected to decline from 2.7 % to 1.2% and 1.4 % in this year 2023. year and next. The growth rate in the US will come down to 1.4 percent in the next fiscal year amid rising interest rates. The euro zones is the forecasting to the shrink from 3.5 % in the currently fiscal year to 0.7 % in the year of 2023 amid war in Ukraine’s an energy crises and the tighter monetarism policy.
USA: 1.4%

Germany: -0.1%

France: 0.7%

Italy: -0.6%

Japan: 1.8%

UK: 0.6%

China: 5.2%

India: 6.1%

Russia: -0.3%
Brazil: 1.2%

Mexico: 1.7%

KSA: 2.6%

Nigeria: 3.2%

RSA: 1.2%

Global inflation will decline: IMF

According to World Economic Outlook projections, global growth is projected to fall from an estimated 3.4% in 2022 to 2.9% in 2023, then increase to 3.1% in 2024. 4.3% in 2023 and 2024, still above pre-pandemic (2017’19) levels of around 3.5% in more than 80% of countries.

It is pertinent to mention that earlier this week, the World Bank had also said that India is expected to be the fastest growing economy among the seven largest emerging market and developing economies (EMDEs), even though its economic growth is set at 6.9%. is expected to slow down. FY 2023 and 6.6% in FY 2024 from 8.7% in the year of 2021-2022.