IMF projects 11.5 per cent growth rate for India in 2021

SHILLONG:

International Monetary Fund (IMF) has projected an 11.5 per cent growth rate for India in 2021, making the country the only major economy in the world to register double-digit growth this year.

India registered the growth amidst the coronavirus pandemic.

IMF said India's economy is projected to grow by 6.8 per cent in 2022 and that of China by 5.6 per cent.

The IMF has further projected that India will reclaim the status of the world's fastest-growing economy.

Commerce and Industry Minister Piyush Goyal tweeted, "Bright Star in Global Economy: India to continue its growth story at rapid pace under PM @NarendraModi ji, with @IMFNews projecting an impressive 11.5% growth rate in 2021. It makes the only major economy to register double-digit growth in 2021."

Revising its figures, the IMF said that in 2020, the Indian economy is estimated to have contracted by eight per cent.

In its latest World Economic Outlook Update, China is next with 8.1 per cent growth in 2021, followed by Spain with 5.9 per cent and France with 5.5 per cent.

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