IMF Projects, India To Grow Fastest In 2021 At 11.5%

Table of Contents

On India

Early this month, IMF Managing Director Kristalina Georgieva had said that
India “actually has taken very decisive action, very decisive steps to deal with the pandemic and to deal with the economic consequences of it”.
India, she said, went for a very dramatic lockdown for a country of this size of population with people clustered so closely together.
Then India moved to more targeted restrictions and lockdowns.
“Emerging markets on average have provided six per cent of GDP. In India this is slightly above
Good for India is that there is still space to do more,” she said, adding that she is impressed by the appetite for structural reforms that India is retaining.

Favorable news on vaccine manufacture, distribution, and effectiveness of therapies could increase expectations of a faster end to the pandemic than assumed, boosting confidence among firms and households.
This would generate stronger consumption, investment, and employment recoveries, with firms hiring and expanding capacity in anticipation of rising demand.
The resulting income gains would support higher and more front-loaded spending than projected.

Growth could turn out weaker than in the baseline if the virus surge (including from new variants) proves difficult to contain, infections and deaths mount rapidly before vaccines are widely available.
Specifically, vaccine rollout could suffer delays, widespread hesitancy could hamper vaccine take-up, vaccines could deliver shorter-lived immunity than anticipated, and advances on therapies could be limited.
Intensifying social unrest, including due to higher inequality and unequal access to vaccines and therapies, could further complicate the recovery.

Q) Which of the following report is published by IMF (International Monetary Fund)?