IMF projects India GDP growth forecast to 1.9%, Barclays forecasted it to 0%

IMF projects India GDP growth forecast to 1.9%, Barclays forecasted it to 0%

IMF projects India GDP growth forecast to 1.9%, Barclays forecasted it to 0%

As per World Economic Outlook report April 2020, released by the International Monetary Fund (IMF) has projected India’s GDP (Gross Domestic Product) growth rate to 1.9% for FY 2020-21.

The GDP growth rate at 1.9% for 2020-21 is 3.9% lower than the January outlook.

Estimated a sharp economic recovery for India in the financial year 2021-22 at 7.4%.

The ‘Great Lockdown’ to combat the covid-19 outbreak will throw the world economy into the worst recession since the Great Depression in 1930s.

Also Read: Retail inflation eases to 4-month low 5.91% in March due to lower food prices

Investment Bank Barclays also pared its growth forecast for India to 0% for calendar year 2020 from its earlier projection of 2.5%.