The IMF report adds, "Real GDP is expected to grow at 6.5% in 2024-25 and 2025-26, supported by robust growth in private consumption on the back of sustained macroeconomic and financial stability."

The IMF observes that India's 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, aided by strong growth in service exports.

However, inflation has declined within the tolerance band of the Reserve Bank (of 2% to 6%), although food price fluctuations have caused some volatility.