Mumbai, Feb. 28 -- International Monetary Fund or IMF stated in its latest Article IV consultation with India that despite recent moderation, India's economic growth has remained robust, with GDP growth of 6 percent y/y in the first half of 2024/25. Inflation has broadly declined within the tolerance band, though food price fluctuations have created some volatility. The financial sector has remained resilient, with non-performing loans at multi-year lows. Fiscal consolidation has continued, and the current account deficit has remained well contained, supported by strong growth in service exports.

Real GDP is expected to grow at 6.5 percent in 2024/25 and 2025/26, supported by robust growth in private consumption on the back of sustained ...