New Delhi, 17 December (H.S.): Former Chief Economist of the International Monetary Fund (IMF), Gita Gopinath, has projected that India’s economy could grow around 7 percent in the financial year 2025–26, slightly higher than the IMF’s earlier forecast of 6.6 percent released in October.

Speaking at an event in New Delhi on Wednesday, Gopinath explained that the IMF’s previous projection was made before the National Statistical Office (NSO) released data showing a stronger-than-expected 8.2 percent growth in the July–September quarter.

She noted, “The IMF’s estimate stood at 6.6 percent, but the actual growth in the second quarter exceeded 8 percent. Given this trend, India’s GDP growth could average close to 7 percent for the full fiscal year.”

Gopinath added that if India sustains an annual growth rate of around 8 percent over the next two decades, it would come very close to meeting its developmental goals for 2047, the year marking 100 years of independence.

However, she emphasized that achieving this would require consistent policy reforms and structural improvements.Earlier this month, the Reserve Bank of India (RBI) also raised its growth forecast for FY2025–26 to 7.3 percent from the earlier estimate of 6.8 percent.

A day before the RBI’s revision, Fitch Ratings upgraded its projection from 6.9 percent to 7.4 percent, citing strong domestic demand and resilient macroeconomic fundamentals.

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Hindusthan Samachar / Jun Sarkar