UPSC Courses

DNA banner


  • 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

Demography Of India

Demography Of India In 2022, China will see an absolute population loss for the first time, and by 2023, when India's population reaches 1,428.63 million, it will have surpassed China's 1,425.67 million. What Influences Population Change? TFR: Total Fertility Rate In the past three decades, TFR has decreased for India.

Election Commission Of India

Election Commission Of India The Chief Election Commissioners' terms have decreased from more than eight years in the 1950s to less than three hundred days since 2004, according to a recent ruling by the Supreme Court, which asserted that the government only declares its support for the independence of election commissioners on the lips.

Climate Change Performance Index 2023

Climate Change Performance Index 2023 The Climate Change Performance Index (CCPI) 2023 places India eighth. India was ranked tenth in the CCPI 2022. What is the CCPI? Since 2005, Germanwatch, the New Climate Institute, and the Climate Action Network have published an annual report. It is an independent monitoring tool for track

Coal: Dominant energy source in India

 Coal: Dominant energy source in India Despite efforts to transition to renewable energy, coal will continue to be India's dominant energy source. What is the country's current energy capacity? According to Climate Action Tracker projections, fossil fuel accounts for more than half of the country's installed energy capa

Norms to Prevent False Online Reviews

Norms to Prevent False Online Reviews The Department of Consumer Affairs recently announced new regulations to protect consumers from "false and misleading reviews." It is part of the Bureau of Indian Standards norms, which will go into effect on November 25. Important Guidelines: E-commerce platforms will be required t


Search By Date

Newsletter Subscription
SMS Alerts