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

Published on January 28, 2021
Current Context: The International Monetary Fund (IMF) has revised the growth forecast for India.
India’s Economy to Contract by 8% -- By IMF
  • 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%
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