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The IMF's growth downgrade math

India comprises just 3.2 per cent of the global economy at Market Exchange Rates, and a 1 per cent or so downgrade in its growth may appear too insignificant to impact global growth

Alok Sheel 

Alok Sheel

IMF’s January 2020 World Economic Outlook (WEO) update created a stir among global policy makers, Indian political circles and in the Indian media, on account of the sharp downward revision of its estimate for Indian growth in 2019-20 over its earlier October 2019 estimate. The estimate for 2019-20 was lowered by 1.3 per cent, from 6.1 per cent to 4.8 per cent.

The projection for 2020-21 was lowered by 1.2 per cent, from 7 per cent to 5.8 per cent, and for 2021-22 by 0.9 per cent, from 7.4 per cent to 6.5 per cent. This was by far the sharpest growth downgrade for any major ...

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First Published: Sun, February 09 2020. 21:21 IST
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