IMF Downgrades India’s Growth Projection From 12.5% To 9.5% For 2021-22

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The International Monetary Fund (IMF) lowered India’s growth projection from 12.5 per cent to 9.5 per cent for fiscal 2021-22, following the severe second wave of COVID-19 pandemic in the country. For fiscal 2022-23, IMF expects economic growth of 8.5 per cent – higher than 6.9 per cent it had projected in April 2021.

“Growth prospects in India have been downgraded following the severe second COVID wave during March-May and expected slow recovery in confidence from that setback,” IMF said in its latest World Economic Outlook (WEO).



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