IMF Forecast: India set to drop below Bangladesh in 2020 per capita GDP|Oneindia News
IMF Forecast: India set to drop below Bangladesh in 2020 per capita GDP|Oneindia News
As the Indian economy continues to contract amid the Coronavirus Pandemic, The international Monetary's prediction for India doesn't look promising.
According to the International Monetary Fund, India is set to drop below Bangladesh in terms of per capita Gross Domestic Product as the economy is projected to contract by a massive 10.3 per cent this year.
The IMF's forecast for India is a huge downward revision from its previous prediction in June, will see the biggest contraction among major emerging markets amid the coronavirus pandemic.
The IMF said that India is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, thus regaining the position of the fastest growing emerging economy, surpassing China's projected growth rate of 8.2 per cent.
#IMF #IndianEconomy #CoronavirusPandemic
