Second wave of Corona hits the country's economy, raising concerns over IMF forecast

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New Delhi, 27 July 2021 Tuesday

The second wave of Corona has hit the Indian economy hard. This claim has been made in the report of the International Monetary Fund (IMF). "The second wave of Corona during March-May has reduced India's growth prospects, and it may take some time to recover from this setback," the IMF report said. The IMF's forecast on the economy is a source of concern for the Indian government.

The report downgrades emerging and developing economies like India. While the economies of those countries have been viewed with hope, a large number of coronaviruses have been vaccinated. According to the report, those countries are most affected, where the struggle for the corona vaccine is ongoing.

3% decline: It may be mentioned here that before the second wave of Corona, the IMF was looking at the Indian economy with hope. In FY2021, the IMF forecast India's economic growth to reach 12.5 percent. However, since the second wave of Corona in May, the IMF has reduced it by three per cent.

Growth rate of 9.5 per cent: According to the latest IMF estimates, India's growth rate could be 9.5 per cent. At the same time, the IMF has raised its growth forecast for FY 2022 by 1.6 per cent. In the next financial year i.e. 2022, the country's growth rate may increase to 8.5 per cent.

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