India’s Economy to Contract by 8% -- By IMF

Current Context: The International Monetary Fund (IMF) has revised the growth forecast for India.

• As per IMF, India’s GDP to contract by 8% in the fiscal year 2021-22.
• Earlier it has projected the GDP contraction of 10.3%.
• IMF has released this updated prediction in its World Economic Outlook.
• Also, the IMF has projected that Indian economy to rise to 11.5% in FY2021-22.
• For 2020, global growth to contract at 3.5% and the global economy to grow by 5.5% in 2021.
• Static part: 
• HQ of IMF: Washington DC, US
• MD and Chairman of IMF: Kristalina Georgieva
• Chief Economist of IMF: Gita Gopinath

Question: 

Q.1 As per IMF, India’s GDP to contract by ____% in the fiscal year 2021-22?
a. 8%
b. 7%
c. 8.5%
d. 7.5%