IMF Projects Indian Economy to grow at 9.5% in FY22; Global economy at 5.9% in 2021

The International Monetary Fund (IMF) has estimated the Indian economy to grow by 9.5% in the current fiscal year, i.e 2021-22 (FY22), and the multilateral organization in its latest World Economic Outlook report released on October 12, 2021, has projected India’s economy to grow 8.5% in FY23.

Meanwhile, IMF expects the global gross domestic product (GDP) to grow by 5.9 percent in 2021 and 4.9% in 2022.