Good News about Indian Economy, will Overtake China-US Soon

India’s economy seems to be recovering from the coronavirus epidemic. The vaccination drive is also having a positive impact. In view of this, the International Monetary Fund (IMF) has estimated that India’s GDP will move forward at a pace of 9.5 percent in the current financial year and 8.5 percent in the next fiscal, which will be the fastest in the world.

Releasing the World Economic Outlook Report, IMF said that the growth of the entire world economy will be 5.9 percent this year and 4.9 percent next year. Apart from this, India’s economy will grow much faster. Citing Corona in July, the global agency had reduced India’s GDP growth forecast from 12.5 percent to 9.5 percent.

IMF Chief Economist Gita Gopinath has appreciated India’s efforts. He has linked the boom in the economy to corona vaccination and said that corona vaccination has taken place very fast in India, which has helped recover the economy.

According to IMF, the US economy is growing at a pace of 6 percent this year, which could be 5.2 percent next. The Chinese economy, which is growing at 8 percent in the current fiscal, is likely to decline to 5.6 per cent in 2022. (Source: News Track)