According to media sources, First Deputy Managing Director of the International Monetary Fund (IMF) Dr Gita Gopinath has said that India’s growth did much better than expected during the last fiscal year 2023-24 and the country is expected to become the third-largest economy of the world by 2027.
Gopinath mentioned that the country needs to create millions of additional jobs in the next 5-6 years. She said, the IMF expects private consumption to recover and a favourable monsoon to increase harvests.
Gopinath added that from two-wheeler sales to fast-moving consumer goods, the overall consumption is surging in India.
According to the latest data by the Society of Indian Automobile Manufacturers, the total production of passenger vehicles, three-wheelers, two-wheelers and quadricycles stood over 24 lakhs 37 thousand units in the last month.
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