IMF retained the growth rate forecast for the Indian economy, expressed concern only on the inflation front. IMF retains India growth forecast to 9.5 percent for current fiscal inflation 5.6 percent

IMF retained the growth rate forecast for the Indian economy, expressed concern only on the inflation front

IMF said that India will continue to grow at the rate of 6.1 per cent till 2026-27.

The International Monetary Fund (IMF) has retained India’s growth rate forecast for the current financial year at 9.5 per cent. For the financial year 2022-23 also, the growth forecast has been kept at 8.5 per cent. According to the report, the Indian economy will continue to grow at the rate of 6.1 percent till the financial year 2026-27.

IMF has also given a big statement regarding inflation. According to the Monetary Fund, India’s retail inflation or retail inflation will be 5.6 percent in the current financial year and 4.9 percent in the financial year 2022-23. In the meeting of the Monetary Policy Committee, the Reserve Bank has estimated the inflation rate for the current financial year at 5.3 percent. RBI has retained the growth rate forecast for the current financial year at 9.5 per cent.

India has done wonders on the vaccination front

Regarding the Indian economy, IMF Chief Economist Gita Gopinath said that the Indian economy has made a great recovery from the second wave of Corona. Due to the second wave, the growth rate estimate was reduced in July, but now the estimate has been kept as it is. Apart from this, he also praised India for the speed of vaccination.

Global economy growth rate reduced by 10bps for this year

The IMF has reduced the global growth rate forecast for 2021 by 10 basis points, while retaining the growth rate forecast for 2022 at 4.9 percent. According to the Monetary Fund, this calendar year the global economic growth rate will be 5.9 percent. Earlier in July, it had kept the global growth rate estimate at 6 per cent.

recovery but the pace has slowed down

The International Monetary Fund said that the global economy will grow at a moderate rate in the medium term. It will gradually come down to 3.3 per cent. He says that there has been a recovery in the global economy, but its pace has slowed down.

The size of the global economy will shrink by $5.3 trillion

According to the report, the global economy has suffered a lot due to the corona epidemic. Due to its long-term effect, the size of the global economy will decrease by $ 5.3 trillion ($ 5.3 trillion) in the next five years.

40% vaccination to be completed in every country by the end of 2021

The IMF said that large-scale vaccination is necessary for economic recovery. 96 percent of the population of a low-income poor country is still out of reach of the vaccine. At present, the most important thing is that by the end of 2021, 40 percent of the population of every country should be vaccinated. By the middle of 2022, it is very important for 70 percent of the population of every country to be vaccinated.

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