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International
IMF Endorses India's 7.8% GDP Growth, Praises Methodology
✍️ NDTV
🗓 16 Oct 2026, 07:25 AM
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The International Monetary Fund has affirmed that India's reported 7.8% growth for the fiscal year is accurate and that the country's calculation methods align with global standards.
The International Monetary Fund (IMF) has publicly backed the Government of India's claim that the country’s 7.8% growth in gross domestic product (GDP) for the fiscal year 2023‑24 is correct. The IMF’s statement, released on Tuesday, also praised the methodology used by India’s Ministry of Finance for compiling GDP figures, describing it as consistent with international best practices.
The endorsement comes amid a row between the central government and a group of economists who had questioned the accuracy of the 7.8% figure. Critics argued that the growth rate might be overstated and called for a review of the data collection process.
In its remarks, the IMF said that the data had been vetted through its standard verification procedures and that the methodology employed by India met the criteria set out in the IMF’s World Economic Outlook guidelines.
The government welcomed the IMF’s support, stating that it would continue to refine its statistical systems and that the endorsement would help reassure investors and international partners about the robustness of India’s economic data.
The endorsement comes amid a row between the central government and a group of economists who had questioned the accuracy of the 7.8% figure. Critics argued that the growth rate might be overstated and called for a review of the data collection process.
In its remarks, the IMF said that the data had been vetted through its standard verification procedures and that the methodology employed by India met the criteria set out in the IMF’s World Economic Outlook guidelines.
The government welcomed the IMF’s support, stating that it would continue to refine its statistical systems and that the endorsement would help reassure investors and international partners about the robustness of India’s economic data.