Bhubaneswar: The International Monetary Fund (IMF) has projected a robust bounce-back by Indian economy at 11.5% growth rate in next financial year.
The World Economic Outlook (WEO) Update released last week increased the forecast by 2.7% from its earlier forecast made in October last year due to strong recovery after lockdowns were eased, according to a news agency.
The IMF report stated that economic data released after the October 2020 WEO forecast suggest stronger-than-projected momentum on average across regions in the second half of 2020.
It also said China’s economy grew by 2.3 per cent last calendar year and is forecast to grow by 8.1 per cent this year and 5.6 per cent the next year.
The IMF estimate for India for the current fiscal and the forecast for the next fiscal are better than the numbers projected by the World Bank and the United Nations earlier this month.