UNITED NATIONS â India s economy is projected to grow at a historically high level of 12.5 percent this fiscal year, but the International Monetary Fund s Indian American chief economist Gita Gopinath cautioned that the current wave of the pandemic is quite concerning.
The growth projection was raised on the basis of evidence we were getting in the last couple of months in terms of the normalization of economic activity, she said at the release of the World Economic Outlook report April 9 in Washington. These numbers precede the current wave of the virus, which is quite concerning, she added.
With the unprecedented growth rate projection of 12.5 percent not seen in modern times, India also regains its status as the world s fastest growing economy, according to the WEO.
Indian economy to grow at historic 12 5%, but COVID wave concerning : IMF
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Sign of normalisation of economic activity in India: IMF chief economist
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WASHINGTON, Apr 7: There is evidence of normalisation of economic activities in India, IMF Chief Economist Gita Gopinath has said ahead of the annual spring meeting of the International Monetary Fund and the World Bank here.
On Tuesday, the IMF projected an impressive 12.5 per cent growth rate for India in 2021, stronger than that of China, the only major economy to have a positive growth rate last year during the COVID-19 pandemic.
“The evidence we were getting in the last couple of months in terms of the normalisation of economic activity,” Gopinath said ahead of the annual spring meeting of the IMF and the World Bank here.