The International Monetary Fund (IMF) has said ahead of next month’s meeting with the World Bank that the Indian economy is on the path of gradual recovery. The IMF has forecast the country’s GDP to grow. Also, different variants of the corona and lockdown pose a risk.
IMF spokesman Gerry Rice said in a press conference on Thursday, “The Indian economy is on a path of gradual recovery and real GDP growth could be positive again in the fourth quarter of 2020.This will be the first time since the onset of the epidemic, and this is supported by an increase in gross, stable capital formation. “
Moody’s Analytics had earlier predicted that the country’s economy would register a 12 per cent growth in the calendar year 2021. Moody’s said that the near-term prospects of the Indian economy have become more favorable after a 7.1 per cent decline last year. The gross domestic product (GDP) growth rate for the quarter ended December 2020 has been 0.4 per cent. This performance is far better than expected. This led to a 7.5 per cent drop in the economy in the previous quarter. Moody’s said that the demand of the country and abroad has improved after easing the hooks. This has led to increased manufacturing output in recent months.
‘Positive GDP Growth’ IMF spokesman Gary Rice said in a press conference on Thursday that India’s real GDP growth rate returned to the positive zone in the fourth quarter of 2020. Does. This is the first time since the Covid pandemic that the country’s GDP has been positive.
‘Risk recovery from lockdown’ Gary Rice said that in addition to GDP, indicators like PMI Index are also in India’s favor. Due to this, this recovery is likely to continue in the first quarter of 2021 as well. But the second wave of corona and locally-locked lockdowns can be a risk to this continuous recovery.
‘Estimates of 11.5% growth rate’ In January, the IMF had projected the country’s economic growth rate to be 11.5% in 2021. At the same time, IMF estimates that the country’s economy may shrink by 8% in 2020.
‘Meeting with World Bank next month’ According to PTI’s news, the International Monetary Fund will hold a meeting with World Bank next month. Apart from this, the IMF’s latest World Economic Outlook report is also to come on April 6 .’
