×

UPSC Courses

DNA banner

DAILY NEWS ANALYSIS

  • 27 January, 2021

  • 12 Min Read

India’s growth rate for 2021: IMF

India’s growth rate for 2021: IMF

  • The IMF on Tuesday projected an 11.5% growth rate for India in 2021, making the country the only major economy to register double-digit growth this year amidst the COVID-19 pandemic.
  • The International Monetary Fund’s growth projections for India reflected a rebound in the economy, which is estimated to have contracted by 8% in 2020 due to the pandemic.
  • China is next with 8.1% growth in 2021 followed by Spain (5.9%) and France (5.5%). The IMF said that in 2020 China is the only major country which registered a positive growth rate of 2.3%.
  • India’s economy, the IMF said, is projected to grow 6.8% in 2022 and that of China by 5.6%.
  • IMF Chief Economist Gita Gopinath, during a virtual press conference to release the update, said that India had a somewhat faster pace of recovery, but cumulatively by the end of 2022, its GDP is expected to be 9% below its pre-pandemic projected level. “We are seeing India come back to its 2019 levels, but it’s still below... Why do we have these upgrades (in IMF’s growth projections for India)... because the activity and mobility particularly came back much faster than expected in India. We have not seen another wave,” Ms. Gopinath said.

‘Faster pace of recovery’

  • “In fact, we are seeing a very strong decline in cases, which is again a bit different from other parts of the world. So, these factors, including what we’re seeing in terms of high frequency indicators, point to [a] somewhat faster pace of recovery. But again, there is still some distance to go,” she added.
  • Earlier this month, IMF MD Kristalina Georgieva had said India “actually has taken very decisive action, very decisive steps to deal with the pandemic and to deal with the economic consequences of it”.

Source: TH


India–Azerbaijan

A year after tensions arising from Operation Sindoor, India and Azerbaijan have taken steps to restore and normalise bilateral relations. The 6th round of Foreign Office Consultations, held in Baku, marked the first such engagement since 2022, signaling renewed diplomatic momentum. Recent Diplomatic Engagement During the consultations, bo

India–Australia Economic Cooperation and Trade Agreem

The India–Australia Economic Cooperation and Trade Agreement has completed four years since its signing. Both countries now aim to build on this progress through strengthened collaboration and ambitious targets, including reaching AUD 100 billion in bilateral trade by 2030. What is the India–Australia Economic Cooperation and Tra

ADR Report on Political Funding

A recent report by the Association for Democratic Reforms (ADR) analyses donations of ?20,000 or more declared to the Election Commission of India (ECI) by national political parties for FY 2024–25, highlighting transparency and accountability in political financing. Key Findings Massive Funding Surge Total donations to nationa

Maritime Chokepoints

Maritime chokepoints are narrow channels along global shipping routes where maritime traffic is concentrated. These points are geopolitically and economically critical, as they handle a large proportion of global trade, especially energy shipments. Current Relevance Over two-thirds of seaborne energy trade passes through a handful o

US-Israel-Iran War

Following the launch of Operation Epic Fury (U.S.) and Operation Roaring Lion (Israel), the geopolitical landscape has shifted fundamentally with the confirmed death of Iran’s Supreme Leader, Ayatollah Ali Khamenei.Iran retaliated through Operation True Promise 4, launching missile attacks against Israel and nearby Gulf states. The escala

DNA

05 Apr,2026

Toppers

Search By Date

Newsletter Subscription
SMS Alerts

Important Links

UPSC GS Mains Crash Course - RAW