IMF projects 11.5% growth rate for India in 2021 amid Covid-19
New Delhi: International Monetary Fund has projected 11.5% growth rate for India in 2021. This means India is the only country to register such a feat amid Covid-19.
The latest World Economic Outlook Update released by IMF said the country reflected a strong rebound in the economy, which is estimated to have contracted by eight per cent in 2020 due to the coronavirus pandemic.
The report said China is next with 8.1 per cent growth in 2021 followed by Spain (5.9 per cent) and France (5.5 per cent). According to the IMF in 2020 the Indian economy is estimated to have contracted by eight per cent.
China is the only major country which registered a positive growth rate of 2.3 per cent in 2020. IMF Managing Director Kristalina Georgieva said that India “actually has taken very decisive action, very decisive steps to deal with the pandemic and to deal with the economic consequences of it”.