The International Monetary Fund (IMF) has pegged the Indian economy to contract by 8 per cent in the current financial year 2020-21, in its latest World Economic Outlook, released on 26 January 2021. The IMF expects GDP of India to rise to 11.5 per cent in the next financial year i.e. 2021-22.
WARRIOR 4.0 | Banking Awareness Batch for SBI, RRB, RBI and IBPS Exams | Bilingual | Live Class
Apart from this, the IMF projected the global growth to contract at 3.5 per cent in 2020. The global economy is projected to grow by 5.5 per cent in 2021 and 4.2 per cent in 2022 as per the IMF.
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.
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