India's economic growth rate to be 11.5 percent in 2021: IMF
The IMF has projected growth in its latest world economic scenario released on 26 January 2021. This explains the rapid revival in the economy.
The International Monetary Fund (IMF) has projected India's economic growth rate to be 11.5 percent in 2021.
India is the only country in the country among large economies during (Covid-19) whose economic growth rate will be in the double digits this year. The IMF has estimated this growth in its latest world economic scenario released on 26 January 2021. This indicates the rapid revival in the economy. In the year 2020, due to the epidemic it is projected to fall by eight percent
The Indian economy is likely to recover significantly in FY 2021. The International Monetary Fund (IMF) has presented this in its latest World Economic Outlook report. For the financial year 2021, India's economy is expected to grow at the fastest pace of 11.5 percent. In this way,It shows the India's ability to be the fastest growing country in the year 2021.
In earlier report, IMF projected 8.8 percent growth rate for FY 2021 released in October. At the same time, the IMF has projected India's GDP growth to be (-) 8 percent for FY 2020.
Earlier, the IMF had projected GDP growth rate of (-) 10.3 percent for FY 2020. At the same time, IMF has predicted 6.8 percent growth in India's GDP for the financial year 2022.
According to the Monetary Fund, in 2022, India's economic growth rate is expected to be 6.8 percent and China will be 5.6 percent. With this latest estimate, India has regained the status of a developing country with rapid economic growth.