Question: In its latest World Economic Outlook report, International Monetary Fund (IMF) has upgraded the growth forecast of India for financial year 2021-22. What is the new forecast of India’s growth?
a) 11.5%
b)12.5%
c)13.5%
d) 15%
Ans: b
Context
- IMF has recently released its World Economic Outlook report.
Facts
- As per the report IMF has upgraded its growth forecast for Indian economy for financial year 2021-22.
- India is projected to grow at 12.5% in financial year 2021-22.
- This projection is 1% more than the IMF previous report published in January this year.
- Report states that the world economy will expand by 6% in 2021, up from the 5.5% it had forecast in January. It would be the fastest expansion for the global economy in IMF records dating back to 1980.
- Report also states that global economy shrank 3.3% in 2020 after the devastating impact of corona virus on global economy.
By kameshwar shukla