India to regain its position of fastest growing economy in 2021

India to regain its position of fastest growing economy in 2021

IMF

As per latest IMF report, India will regain its position of the fastest growing economy, crossing the growth rate of China, which is expected to achieve 8.2 per cent GDP growth in the year 2021. Though the IMF reported that, the pandemic has severely hit India’s economy and is projected to contract by 10.3 per cent in 2020. The economy of the country is expected to achieve the growth rate of 8.8 per cent in the year 2021. The report has been released just before the annual meeting of IMF and the World Bank, and shows that the global economic growth will contract by 4.4 per cent this year and will return with 5.2 per cent in 2021.

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