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.