The growth rate will be 12.5 per cent
Washington: The International Monetary Fund (IMF) has projected India’s growth rate to reach 12.5 per cent in 2021. India’s economy will grow stronger than China’s because last year, China also did well in the corona virus crisis.
India’s economy is expected to grow by 6.9 per cent in 2022, according to the annual World Economic Outlook by the Washington-based World Financial Institution. The IMF has made the above prediction in a report ahead of the annual meeting.
In particular, India’s economy recorded a record low of 8 per cent in 2020, while the IMF has projected a strong growth rate of 12.5 per cent in 2021.
China, on the other hand, recorded a 2.3 percent growth rate in 2020 during the Corona Crisis and is expected to grow 8.6 percent in 2021. In 2022, the growth rate will be 5.6 percent.
“We expect the global economy to recover strongly in 2021 and 2022,” said Geeta Gopinath, chief economist at the IMF. We had earlier projected a growth rate of 6 per cent in 2021 and 4.4 per cent in 2022. Now it has been improved. In 2020, the global economy contracted by 3.3 percent.
Despite the IMF’s strong predictions, the corona virus crisis has resurfaced in India and many other countries around the world. So there are signs that the economy is being hit. Despite this, the IMF report has expressed optimism that the economy will improve.
Tags: growth rate 12.5 per cent, International Monetary Fund, Washington