The IMF on Tuesday projected an impressive 11.5 percent growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic.
The International Monetary Fund's growth projections for India in its latest World Economic Outlook Update released on Tuesday reflected a strong rebound in the economy, which is estimated to have contracted by eight per cent in 2020 due to the pandemic. In its latest update, the IMF projected an 11.5 percent growth rate for India in 2021. This makes India the only major economy of the world to register a double-digit growth in 2021, it said.
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China is next with 8.1 per cent growth in 2021 followed by Spain (5.9 percent) and France (5.5 percent). Revising its figures, the IMF said that in 2020, the Indian economy is estimated to have contracted by eight percent. China is the only major country which registered a positive growth rate of 2.3 percent in 2020.