Good News Before Budget: The central government is going to present the general budget for the financial year 2021-22 on 1 February. There is now 5 days left in it. Earlier, two international organizations have given good news about the Indian economy. The International Monetary Fund (IMF) has forecast growth of 11.5% in the Indian economy in the calendar year 2021 and United Nations (UN) at 7.3%.
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India will be the First Country to Register Double Digit Growth
The IMF has said that India will be the first country in the world to grow in double digit in 2021. India can achieve this despite the Kovid-19 epidemic. In the World Economic Outlook released on Tuesday by the IMF, it has been said that the Indian economy is seeing a sharp comeback. The Indian economy is projected to decline by 8% in 2020 due to Corona.
India will Beat China
In the current calendar year, India will overtake China in terms of economic growth. According to the IMF Outlook, India’s economic growth will be 11.5% in 2021, while China’s economic growth will be 8.1%. This is followed by Spain (5.9%) and France (5.5). The IMF has changed the figures saying that the Indian economy will decline by 8% in 2020. While China’s economic growth will be 2.3%. China will be the only country in the world with positive economic growth in 2020. Good News Before Budget.
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6.8% Growth Forecast in 2022
The IMF forecast growth of 6.8% in the Indian economy and 5.6% in the Chinese economy in calendar year 2022. With the latest estimates, India will be at the top of the fastest growing developing economies in the world. Last month, IMF managing director Christalina Georgia said that India has taken tough steps to deal with Corona.
United Nations Estimates – to Grow at 7.3% in 2021
The United Nations (UN) on Tuesday released a report titled World Economic Situation and Prospect 2021. It states that the Indian economy will grow at 7.3% in the current calendar year (2021). The report states that the Indian economy has fallen by 9.6% in calendar year 2020 due to coronavirus. The UN says GDP has been declining despite fiscal and monetary stimulus.
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Last Year Growth
Last year, that is, in the year 2020, the IMF has projected a growth of -3.4 percent in the US economy. Apart from this, the IMF has announced -9.0 per cent in France’s economy for the year 2020, -9.2 per cent in Italy, -11.1 per cent in Spain, -5.1 per cent in Japan, -10 per cent in UK, -5.5 per cent in Canada, 2.3 per cent in China. , -3.9 per cent in Saudi Arabia, -4.5 per cent in Brazil and -3.9 per cent in Southern Africa.
