IMF Chief Economist Geeta Gopinath has said that there is evidence of normal economic activity in India, the International Monetary Fund (IMF) on Tuesday predicted a growth rate of 12.5 percent for India in 2021, which is stronger than this was. China is the only major economy with a positive growth rate last year during the COVID-19 epidemic.
“There is evidence in a few months of showing a generalization of economic activity,” said Geeta Gopinath, IMF chief economist ahead of the annual spring meeting of the IMF and the World Bank.
In its annual World Economic Outlook, the IMF stated that the Indian economy is expected to grow 6.9 percent in 2022. In 2020, India’s economy declined by a record eight percent. On the other hand, compared to the initial estimates of this team, the change in 2021 forecast is very small, he said.
“In the case of India, we have a very small change. This is a one percent increase for the growth of 2021. It came with a higher frequency,” she said.
The global economy grew by 4.3 percent last year during the 2009 global financial crisis, which is two-and-a-half times higher.