New Delhi. The International Monetary Fund (IMF) has not made any cut in the estimate of India’s economic growth rate ie GDP. However, the IMF has reduced this year’s estimate for the global economic growth rate. The IMF says that due to supply chain disruptions, the pace of development of developed economies will be affected. At the same time, in the event of worsening of the corona virus epidemic, the pace of economic growth in low-income economies will be affected.
Global growth will be 4.9% in the year 2022
The IMF has projected the global economic growth rate to reach 5.9 percent in the World Economic Outlook report. However, in July 2021, the IMF had projected global growth to be 6 percent. In other words, the Monetary Fund has made a slight cut in it. At the same time, the IMF has still retained the 4.9 percent estimate of global economic growth in the year 2022. Gita Gopinath, chief economist of the Monetary Fund, said the worsening pandemic situation has increased challenges for a group of low-income developing countries. In addition, the recent downgrade reflects the difficult situation in the short-term for the group of developing countries.
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India will also give a beating to China in this matter
The International Monetary Fund has retained India’s economic growth forecast for the current and next fiscal years. According to the IMF, India’s real GDP in the current financial year can be 9.5 percent. At the same time, it is expected to grow at the rate of 8.5 percent in the financial year 2023. On the other hand, the IMF has projected a slight decline in the Chinese economy in the current financial year. The Monetary Fund said that China’s GDP could be 8 percent in the current financial year. This is less than India’s 9.5 percent GDP estimate.
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