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.

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.

Find More News on Economy Here

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.

Recent Posts

Who is the Owner of Air India Limited?

In today's world, many big companies own well-known businesses. These companies help them grow, improve…

6 hours ago

Which Indian State is Known as the Land of Coconut?

India is a land full of different states, each with its own special things. Some…

7 hours ago

Where is Kund Mala Bridge Located? On Which River is it Situated?

Kund Mala is a beautiful place located near Pune in Maharashtra. It is about 30…

9 hours ago

Top-5 Countries with the Most Official Languages in 2025, Know About Them

Language is a big part of who we are and where we come from. It…

10 hours ago

PM Modi Conferred with Cyprus’ Highest Civilian Honour — Order of Makarios III

In a significant diplomatic gesture, Prime Minister Narendra Modi was conferred with the Grand Cross…

10 hours ago

Wholesale Inflation Slows to 0.39% in May as Food Prices Ease

India’s wholesale price inflation (WPI) eased significantly to 0.39% in May 2025, driven primarily by…

10 hours ago