The International Monetary Fund (IMF) predicted that India’s economy is likely to recover rapidly from the Covid crisis. Despite the economic crisis, the country is expected to achieve double-digit growth this year. According to the IMF, India’s growth is expected to reach 11.5 per cent by 2021.
IMF has predicted a growth rate of 8.1 per cent for China, 7 per cent for Malaysia, 6 per cent for Turkey, 5.9 per cent for Spain, 5.5 per cent for France and 5.1 per cent for the US.
In 2020, India’s GDP was 8 per cent. However, the growth rate was expected to be 10.3 per cent.
The agency has released its prediction considering issues including the supply and the export of Covid vaccine.