The International Monetary Fund (IMF) listed India as the only country to register a double-digit growth this year amidst the coronavirus pandemic. The IMF projected an impressive 11.5 per cent growth rate for India in 2021. China is next with 8.1 per cent growth in 2021 followed by Spain (5.9 per cent) and France (5.5 per cent).
The IMF said that in 2020, the Indian economy is estimated to have contracted by eight per cent. China is the only major country which registered a positive growth rate of 2.3 per cent in 2020.
India’s economy, the IMF said, is projected to grow by 6.8 per cent in 2022 and that of China by 5.6 per cent. With these latest projections, India regains the tag of the fastest developing economies of the world.
Early this month, IMF Managing Director Kristalina Georgieva had said that India actually has taken very decisive action to deal with the pandemic and went for a very dramatic lockdown for a country of this size of population with people clustered so closely together.