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India to contribute 15% of global growth in 2023 : IMF

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India to contribute 15% of global growth in 2023 : IMF

Why in news :

  • Recently International Monetary Fund (IMF) Managing Director said that India continues to remain a relative “bright spot” in the world economy, and will alone contribute 15% of the global growth in 2023.

Main drivers :

  • Digitisation pulled out the world’s fifth-largest economy from pandemic lows.
  • Along with that prudent fiscal policy and significant financing for capital investments provided in the next year’s Budget will help sustain the growth momentum.

More on the news :

  • India’s performance has been quite impressive.

World Economic Outlook :

  • World Economic Outlook is a report published by the International Monetary Fund twice a year.

Syllabus : Prelims; Economy

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