International Monetary Fund predicts India’s Growth Rate at 1.9%

Following the World that set India’s Growth rate between 1.5% and 2.8%, the International Monetary Fund has set growth rate of India at 1.9%.

On April 14, 2020, the IMF released its report predicting growth rate of the country at 5.8%.

Highlights

IMF also says that the India will recover at the growth rate of 7.4% in 2021-22. The world economy is to revive at 5.8% according to the report. The IMF has predicted that the countries such as India, China, Malaysia, Indonesia, Thailand, Philippines and Vietnam will alone see increasing growth rate.

Other countries

According to the report, the other major economies of the world are to face decreasing growth rate. US is to witness a declining growth rate of 6.1%, France at -7.2%, UK at -6.5%, Germany at -7%, Italy at -9.1%. The negative growth rates have directly projects the intensity of spread of COVID-19 virus.

Bottom line, the report says that the global economy is to revive in 2020-21.

Month: Current Affairs - April, 2020