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January 27, 2021

India’s GDP will grow 11.5% in FY22, Fastest in World as per IMF

by CA Shivam Jaiswal in Circular and Notifications

India’s GDP will grow 11.5% in FY22, Fastest in World as per IMF

IMF today revised India’s GDP growth forecast for FY22 from 8.8% to 11.5%,making it fastest growing global economy

IMF listed India as only major economy of the world to register double-digit growth in FY22, thx to path breaking reforms & mega vaccine roll out by govt

ParticularEstimateProjectionProjection
(real GDP, annual percent change)202020212022
World Output-3.55.54.2
Advanced Economies-4.94.33.1
United States-3.45.12.5
Euro Area-7.24.23.6
Germany-5.43.53.1
France-9.05.54.1
Italy-9.23.03.6
Spain-11.15.94.7
Japan-5.13.12.4
United Kingdom-10.04.55.0
Canada-5.53.64.1
Other Advanced Economies-2.53.63.1
Emerging and Developing Economies-2.46.35.0
Emerging and Developing Asia-1.18.35.9
China2.38.15.6
India-8.011.56.8
ASEAN-5-3.75.26.0
Emerging and Developing Europe-2.84.03.9
Russia-3.63.03.9
Latin America and the Caribbean-7.44.12.9
Brazil-4.53.62.6
Mexico-8.54.32.5
Middle East and Central Asia-3.23.04.2
Saudi Arabia-3.92.64.0
Sub-Saharan Africa-2.63.23.9
Nigeria-3.21.52.5
South Africa-7.52.81.4
Memorandum Low-Income Developing Countries-0.85.15.5

Source: IMF, World Economic Outlook Update, January 2021

Note: For India data of forecasts are presented on fiscal year basis, with FY 2020/2021 Starting in April 2020. India Growth Projections are – 7.6 % in 2020 and 11.0 % in 2021 based on calendar year.  

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