Categories: Economy

IMF revises India’s growth forecast to -8% in FY21

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.

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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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Sumit Arora

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.

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