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IMF raises India's growth projection to 12.5% for FY22 - The Hindu BusinessLine


IMF raises India’s growth projection to 12.5% for FY22
April 06, 2021
In January, IMF’s projection for current fiscal was 11.5 per cent.   -  istock.com/siraanamwong×
Country’s strong show seen boosting ‘Emerging and Developing Asia’ group
The International Monetary Fund (IMF) has upped its growth projection for India by one percentage point for the current fiscal that started on April 1. Even for the next fiscal, it has revised the projection upwards.
According to the latest edition of the World Economic Outlook (WEO) released on Tuesday, India is projected to grow at 12.5 per cent during the current fiscal (FY 2021-22). This is the highest not just among emerging economies, but also in the group combining advanced economies. In fact, India will be the only country that is estimated to register double-digit growth. For FY 2020-21, the IMF estimates the GDP to contract by 8 per cent. ....

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After a contraction of 8%, expected growth of 12.5% for India: IMF


Averting divergent outcomes would mean “resolving the health crisis everywhere” the report says
After an estimated contraction of 8% in the fiscal year that ended March 31, India is projected to grow at 12.5 % during the current year, settling down to 6.9% growth year (FY22/23), according to the World Economic Outlook (WEO): Managing Divergent Recoveries, released by the IMF as the World Bank IMF Spring Meetings kick off virtually. The growth outlook for India however comes with significant downside risks because of the current pandemic wave the country is experiencing, IMF economists said.
The projections for India were based on evidence to support the normalization of economic activity but these forecasts preceded the current wave of COVID-19 in India, “ which is quite concerning,” IMF Chief Economist Gita Gopinath said at a press conference on Tuesday. ....

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