Saturday, October 16, 2021

IMF says India will be fastest growing economy; projects 8.5 % growth rate in next fiscal year

International Monetary Fund (IMF) has projected that India will continue to be the world’s fastest growing major economy, clocking a growth rate of 9.5 per cent in 2021. As per latest IMF projections, Indian economy will grow at 8.5 percent in 2022. The world economy is expected to grow at 5.9 per cent in 2021 and 4.9 per cent in 2022, according to IMF.

The United States is projected to grow at six per cent this year and 5.2 per cent the next year. China, on the other hand, is projected to grow at 8 per cent in 2021 and 5.6 per cent in 2022. IMF said, global recovery continues, but the momentum has weakened and uncertainty has increased.

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