INSUBCONTINENT EXCLUSIVE:
IMF retained India's economic growth rate at 9.5 per cent for 2021
The International
Monetary Fund (IMF) retained India's growth projection at 9.5 per cent for 2021, after it downgraded the growth rate by three percentage
pointsfrom 12.5 per cent in July, following the severe second wave of COVID-19 pandemic in the country
The Indian economy - which contracted by a record 7.3 percent due to the pandemic, is expected to grow at 8.5 per cent in
held on October 8.The World Bank pegged India's growth forecast to 8.3 per cent for the current financial year 2021-22, compared to the
earlier estimate of 10.1 per cent
report.India's economy grew by 20.1 per cent in the first quarter of the current fiscal and the sharp jump in the gross domestic product
(GDP) was mostly on the back of the low base effect as the economy had contracted by a record 24.4 per cent in the year-ago period - when
COVID-19 first hit the country.The IMF downgraded the global economic projection to 5.9 per cent from six per cent, in its latest WEO
update, released ahead of its annual meeting and the World Bank.United States and China witnessed a major cut in growth projection
IMF pegged the growth rate for US at six per cent - down by one percentage points, and China's at eight per cent - down by 0.1 percentage
point.The advanced economy group is expected to regain its pre-pandemic trend path in 2022 and exceed it by 0.9 per cent in 2024, according
is expected to remain 5.5 per cent below the pre-pandemic forecast in 2024, resulting in a larger setback to improvements in their living
pledges, coordinate with manufacturers to prioritise deliveries to COVAX in the near-term and remove trade restrictions on the flow of
