172@29@17@151!~!172@29@0@53!~!|news|business|economy|big-story-severe-contraction-in-indias-gdp-shown-by-imf-for-fy21-5962331.html!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false
Moneycontrol
FREE virtual training session on Passive Income Secrets: October 24 and 25, 2020, 10am to 1pm. Register Now!
Last Updated : Oct 14, 2020 09:13 PM IST | Source: Moneycontrol.com

Big Story | Severe contraction in India's GDP shown by IMF for FY21

This projection is even grimmer than what the Reserve Bank of India (RBI) predicts. How long will the economy take to recover?

The International Monetary Fund (IMF) has projected India’s gross domestic product (GDP) to plunge by 10.3 percent in financial year 2020-21, revising its earlier estimate of a 4.5 percent degrowth.

This projection is even grimmer than what the Reserve Bank of India (RBI) predicts. RBI forecasts that there will be a contraction of 9.5% in the GDP for the current fiscal year.

However, India is expected to rebound in 2021 with 8.8 percent growth rate in the succeeding financial year, the IMF said.

Close
How long will the economy take to recover? Let’s find out in this edition of Big Story.
First Published on Oct 14, 2020 08:47 pm
Sections