IMF estimates, Indian economy will grow at the rate of 9.5 percent this year

IMF on Indian economy: According to the latest estimates released by the International Monetary Fund (IMF) on Tuesday, India’s economy is expected to grow at 9.5 percent in 2021 and 8.5 percent in 2022. The economy had declined by 7.3 percent during the financial year 2020-21.

The IMF’s latest World Economic Outlook (WEO) has kept India’s growth projections stable at its previous estimate released in July this year, though it is 1.6 per cent lower than April’s estimates. According to the latest WEO released before the annual meeting of the IMF and the World Bank, the growth rate of the whole world is estimated to be 5.9 percent in 2021 and 4.9 percent in 2022.

The US is projected to grow at six per cent this year and 5.2 per cent next year. According to these forecasts, China’s economy can grow at the rate of eight percent in 2021 and 5.6 percent in 2022. IMF Chief Economist Gita Gopinath said, compared to her July forecast, the global growth forecast for 2021 has been marginally revised to 5.9 per cent and for 2022 it remains the same at 4.9 per cent.

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