India doing well in terms of vaccinating its own people, says IMF official | India News

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WASHINGTON: India is doing well in terms of vaccinating its own people and this is certainly helpful in its economy, a International Monetary Fund The official said on Tuesday that the global financial institution in its latest outlook was projecting a 9.5 percent growth rate for India in 2021.
“We don’t have a change in our growth forecast for this year for India. I mean, India came out of a very, very difficult second wave and that led to a big downgrade in July, but we have no change (in its growth rate projections ) hereinafter “, Gita Gopinath, chief economist of the IMFhe told reporters during a virtual conference call on Tuesday.
India growth projection released by the latest World economy perspectives It remains unchanged from its previous WEO update in July this summer, but is down three percentage points in 2021 and a 1.6 percentage point drop from its April projections.
According to the latest WEO update, released before the annual meeting of the IMF and World Bank, India’s economy contracted 7.3% annually due to COVID-19 pandemic it is expected to grow 9.5% in 2021 and 8.5% in 2022.
The world is expected to grow at 5.9% in 2021 and 4.9% in 2022. The United States is projected to grow at 6% this year and 5.2% next. China, on the other hand, the IMF said, is projected to grow 8 percent in 2021 and 5.6 percent in 2022.
Gopinath said that there are many challenges that Indian economy you are already facing as far as the financial market is concerned, as far as the fact that the virus is not gone yet.
“The Indians do well in terms of vaccination rates and that’s certainly useful, “Gopinath said in response to a question.
Malhar Nabar, who heads the World Economic Studies division in the IMF’s Research Department that produces World Economic Outlook (WEO), said there is still room to provide more support if needed if the pandemic worsens, to provide it. in a way aimed at the most affected households and companies.
“But in the medium-term future, it was important to implement a credible medium-term strategy to reduce the debt-to-GDP ratio and create space to meet the future development and infrastructure needs of the Indian economy,” Nabar said. he said in response to a question.





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