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
| Particular | Estimate | Projection | Projection |
| (real GDP, annual percent change) | 2020 | 2021 | 2022 |
| World Output | -3.5 | 5.5 | 4.2 |
| Advanced Economies | -4.9 | 4.3 | 3.1 |
| United States | -3.4 | 5.1 | 2.5 |
| Euro Area | -7.2 | 4.2 | 3.6 |
| Germany | -5.4 | 3.5 | 3.1 |
| France | -9.0 | 5.5 | 4.1 |
| Italy | -9.2 | 3.0 | 3.6 |
| Spain | -11.1 | 5.9 | 4.7 |
| Japan | -5.1 | 3.1 | 2.4 |
| United Kingdom | -10.0 | 4.5 | 5.0 |
| Canada | -5.5 | 3.6 | 4.1 |
| Other Advanced Economies | -2.5 | 3.6 | 3.1 |
| Emerging and Developing Economies | -2.4 | 6.3 | 5.0 |
| Emerging and Developing Asia | -1.1 | 8.3 | 5.9 |
| China | 2.3 | 8.1 | 5.6 |
| India | -8.0 | 11.5 | 6.8 |
| ASEAN-5 | -3.7 | 5.2 | 6.0 |
| Emerging and Developing Europe | -2.8 | 4.0 | 3.9 |
| Russia | -3.6 | 3.0 | 3.9 |
| Latin America and the Caribbean | -7.4 | 4.1 | 2.9 |
| Brazil | -4.5 | 3.6 | 2.6 |
| Mexico | -8.5 | 4.3 | 2.5 |
| Middle East and Central Asia | -3.2 | 3.0 | 4.2 |
| Saudi Arabia | -3.9 | 2.6 | 4.0 |
| Sub-Saharan Africa | -2.6 | 3.2 | 3.9 |
| Nigeria | -3.2 | 1.5 | 2.5 |
| South Africa | -7.5 | 2.8 | 1.4 |
| Memorandum Low-Income Developing Countries | -0.8 | 5.1 | 5.5 |
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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