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Indian economy to dip 10.3% in 2020; rebound with 8.8% growth in 2021: IMF
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Covid-19 impact: India's GDP may contract 10.3% in FY21, says IMF

IMF now expected the world economy to fall less severely by 4.4 per cent than 5.2 per cent it projected earlier for 2020

Topics
Indian Economy | International Monetary Fund | IMF

Indivjal Dhasmana  |  New Delhi 



unlock, lockdown, coronavirus
Workers wait for customers outside their tyre shops, during Unlock 2.0, in New Delhi. (File photo.)

The (IMF) on Tuesday sharply revised its projection of contraction in India’s gross domestic product (GDP) for 2020-21 – from 4.5 per cent earlier to 10.3 per cent – citing the rise in Covid-19 cases. The organisation, however, added that the country’s economy might rebound with an 8.8 per cent growth rate in 2021-22, higher than the 6 per cent it forecast earlier.

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First Published: Tue, October 13 2020. 18:50 IST

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