India expected to post sharp turnaround in 2021-22, Says RBI Guv citing IMF projection

Mumbai/April,17: RBI Governor Shaktikanta Das said on Friday that the country is expected to post a sharp turnaround in the next financial year, citing International Monetary Fund (IMF) projections. This is the second time the RBI Governor is addressing the media since the country began the lockdown on March 25.
India is expected to grow at 7.4 per cent in 2021-22, the RBI Governor Shaktikanta Das said, quoting IMF projection. IMF has projected GDP growth of 1.9 per cent for India in 2020, which by itself is the highest among G20 countries. This is especially noteworthy, given that global economy is headed into recession in wake of the Covid-19 pandemic. The IMF has already estimated cumulative loss to global GDP in 2021 and 2022, at $9 trillion, which is greater than the combined economies of Japan and Germany.