World Economic Outlook

10 Apr World Economic Outlook

Posted at 10 Apr 2021 in Current Affairs by 0 Comments

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(GS PAPER 3- Liberalization

Source- The Hindu)

Context

The International Monetary Fund in April 2021 projected a 12.5% growth rate for India in the year 2021 In its annual world economic Outlook

It projected that the Indian economy will grow by 6.9 % in 2022

Key points

The projected growth rate for India is stronger than that of China, Which of the only major economy to have a positive growth rate last year during a covid-19 pandemic
With an estimated contraction of 3.3 % in 2020 the global economy is projected to grow at 6% in 2021 moderating to 4.4% in 2022
This reflects additional fiscal support in few large economies and the anticipated vaccine power data recovery in the second half of the Year

-Khyati Khare