India’s economic growth is likely to contract by 10.3 percent in financial year 2020-21, falling below Bangladesh in terms of the per capita GDP — that's what the IMF has projected in its latest World Economic Outlook report. This is a big downward revision from its previous forecast in June when the IMF had predicted a 4.5% contraction in the current fiscal.
Though India is expected to see the biggest contraction projected among major emerging markets amid the pandemic, the economy is likely to bounce back with an impressive 8.8 percent growth rate next year and even regain its position as the fastest growing emerging economy. The IMF also projected that India will surpass Bangladesh again in 2021.
But how long will it take for the economy to recover to the pre-COVID times? What has India done so far and what more measures can the government take to speed up the process of the recovery? Tune in to The Big Story!
Producer and Host: Shorbori Purkayastha
Guests:
Gita Gopinathan, IMF Chief Economist
Uday Kotak, MD of Kotak Mahindra Bank
Producer and Host: Shorbori Purkayastha
Guests:
Gita Gopinathan, IMF Chief Economist
Uday Kotak, MD of Kotak Mahindra Bank
Editor: Shelly Walia
Music: Big Bang Fuzz
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