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

The International Monetary Fund (IMF) has pegged the Indian economic system to contract by 8 per cent within the present monetary yr 2020-21, in its newest World Economic Outlook, launched on 26 January 2021. The IMF expects GDP of India to rise to 11.5 per cent within the subsequent monetary yr i.e. 2021-22.

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Apart from this, the IMF projected the worldwide development to contract at 3.5 per cent in 2020. The international economic system is projected to develop by 5.5 per cent in 2021 and 4.2 per cent in 2022 as per the IMF.

Important takeaways for all aggressive exams:

  • IMF Headquarters: Washington, D.C. U.S.
  • IMF Managing Director and Chairman: Kristalina Georgieva.
  • IMF Chief Economist: Gita Gopinath.

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