IMF revises India's GDP growth forecast for 2021-22 to 9.5%

The International Monetary Fund (IMF) has revised India’s real GDP growth projection for 2021-22 downwards to 9.5 per cent from 12.5 per cent estimated in April 2021. Growth prospects for the country have been downgraded following the severe second Covid-19 wave during March-May 2021 and expected slow recovery in confidence from that setback, it said. Economic growth rate for 2022-23 is projected at 8.5 per cent.