Home » IMF projects India’s GDP to contract...

IMF projects India’s GDP to contract 10.3% in 2020

Sumit Arora Last updated on October 14th, 2020 10:58 am Leave a comment

According to ‘World Economic Outlook’ report, the International Monetary Fund (IMF) has projected the Indian economy to contract by 10.3 per cent in 2020-21, from its earlier prediction of 4.5 per cent due to rise in Covid cases.

WARRIOR 3.0 | Banking Awareness Batch for SBI, RRB, RBI and IBPS Exams | Bilingual | Live Class

However, IMF estimates the GDP of India to grow at 8.8 per cent in 2021-22, as compared to 6 per cent predicted earlier, regaining the position of the fastest-growing emerging economy. On the other hand, the Fund expects the world economy to contract by 4.4 per cent in 2020. This projection was -5.2 per cent earlier.

Important takeaways for all competitive exams:

IMF Headquarters: Washington, D.C. U.S.
IMF Managing Director and Chairman: Kristalina Georgieva.
IMF Chief Economist: Gita Gopinath.

Find More News on Economy

About the Author

Sumit Arora

Author

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.