WASHINGTON : First Deputy Managing Director of the International Monetary Fund (IMF) Dr Gita Gopinath has said that India’s growth has been better than expected. She said the IMF expects private consumption to recover and a favourable monsoon to increase harvests. She said India is expected to become the third-largest economy by 2027.

“India’s growth did much better than we expected the last fiscal year and that those carryover effects are affecting our forecast for this year. The other factor is we see private consumption recovering,” said Gopinath.