IMF FORECASTS CONTRACTION OF 4.5 IN THE INDIAN ECONOMY IN FY21

Highlights

• In the month of April, the IMF had predicted growth of 1.9 percent for the FY21

• The IMF stated that the prolonged lockdown and slow recovery will lead to contraction in the GDP

• The IMF also forecasted India’s growth revival will be 6 percent in FY22

Asia’s third largest economy may witness a contraction of 4.5 percent in the Indian economy in FY21 said the Inte....