The International Monetary Fund (IMF) has said that India’s gross domestic product (GDP) could fall by 4.5 per cent due to the Corona crisis in this financial year i.e. 2020-21.
The IMF says that the corona virus’s impact on the economy in the first half is more severe than expected. The IMF has forecast a 4.9 per cent drop in the global growth rate in the year 2020. The IMF said that the global economy may grow by 5.4 per cent in the next financial year. This is 0.4 per cent more than its earlier estimate.
What Did The IMF SAY?
The IMF said in its World Economic Outlook update released on Wednesday in June 2020, “The Indian economy may decline by 4.5 per cent due to prolonged lockdown and slower recovery than expected in April.”The International Monetary Fund (IMF) said that the Indian economy may decline by 4.5 per cent in 2020 and it will be a historic decline. It has said that due to the Coronavirus epidemic and its prevention measures, most of the economic activity is expected to fall due to such a huge decline.