Current Affairs   »   IMF projects India’s GDP to contract...

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

IMF projects India's GDP to contract 10.3% in 2020_50.1

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

IMF projects India's GDP to contract 10.3% in 2020_60.1

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *