INSUBCONTINENT EXCLUSIVE:
IMF predicted the steepest downturn since Great Depression of 1930sThe International Monetary Fund (IMF) on Tuesday projected India's growth
downturn since the Great Depression of the 1930s.The forecast also mentioned that Asian powerhouses India and China are likely to narrowly
avoid recession this year and are poised to bounce back strongly in 2021 if the coronavirus is contained.The pandemic has hammered the world
economy, with millions of jobs lost and businesses shut because of unprecedented lockdown measures to slow the spread of the disease.India,
Asia's third-biggest economy, is expected to grow at 7.4 per cent next year, according to IMF
As far as China is concerned, IMF predicted a growth of 1.2 per cent growth, its slowest expansion in more than four decades."Other regions
are projected to experience severe slowdowns or outright contracts in economic activity," IMF said.
