India to grow at 8.5% in 2022, will retain fastest growing economy tag: IMF
NEW DELHI: India is projected to retain the tag of fastest growing economy in the world with the International Monetary Fund (IMF) forecasting 8.5 per cent growth for the year 2022.
In its latest World Economic Outlook report, released on Tuesday, the IMF said that Indian economy is expected to grow by 9.5 per cent in 2021 and 8.5 per cent in the next year.
The announcement comes as a positive sign for the economy which is recovering from the slump created by the Covid-19 pandemic.
In FY21, the economy had witnessed a negative growth of 7.3 per cent, first time in almost 40 years.
India also witnessed its first technical recession last year with two consecutive quarters of negative growth in wake of the nationwide lockdowns to curb the spread of Covid-19 pandemic.
However, with cases declining, economic activities in the country are gradually regaining pace with the economy witnessing record 20.1 per cent rise in gross domestic product (GDP) in Q1 of FY22. The growth can be largely attributed to a low base effect and resumption of business activities.
The United States is projected to grow at 6 per cent this year and 5.2 per cent the next year.
Kudos to Modi and his team, and everyone else who made this possible. Modi's efforts in laying a strong foundation is bearing fruits now. Brain dead Modi hating anti India trolls must be seething with frustration n anger on this.
Pappu Sena will now work overtime to rebuke this report and point towards a non issue that has nothing to do with growth and economy.
Now some intellectual and so called economist will cry inconsolably telling "Modi bought IMF" or "IMF is biased".
Modiji's commendable efforts are finally showing results! Hats off sir, we are blessed to have you as our leader!
Compared to other countries India is doing good .there was covid effect throughout the world so there was negative growth, after vaccination things in India are getting better .india needs double digit growth for a decade to be in the top three economies of the world. and also po itical stability by Modi's BJP govt is the main factor for growth.
India is Unstoppable under PM modi govt.
congress will do everything to stall this growth by sponsoring Dharna with Chinese money.
Great Modijee, keep up the good show.
GREAT EFFORTS BY MODI JI AND HIS TEAM
Prime Minister, Narendra Modi ji we are proud of you for 8.5% growth in 2022.
Hope former prime minister will congratulate you. We wish you one more term and few more terms for BJP go nment.
Kudos GOI. We, Indians will work hardest to achieve even better and bigger. Thank you, IMF for the positive feedback.
Ease of doing business has improved under Modi. Now one can get SME certificate in 2 days just by filing online application. which earlier used to take months.
great work by modi ji
Modi is next only to god.
Modiji the true India Lover
Good. Hopefully, we can keep the momentum.
Jay Ho Modiji! Long live Modiji!
Great effort from India. This will definitely bring back relief low and medium families who are dependent monthly or daily income.
Oh no !Heartburn moment for Modi haters. But a great news for India itself.
A very good as well as encouraging news from IMF regarding recovery in Indian economy by IMF.