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Covid-19 impact: IMF projects India’s GDP to contract 10.3% in 2020

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GDP) to plunge in FY21 by 10.3%, revised down since its June forecast of 4.5% drop, reflecting a severe-than-anticipated contraction in economic activities in the first quarter as a result of the nationwide lockdown as well as the rapidly spreading pandemic.In its biannual World Economic Outlook, IMF said all emerging market and developing economy regions are expected to contract this year, including notably emerging Asia, where large economies, such as India and Indonesia, continue to try to bring the pandemic under control. “Revisions to the forecast are particularly large for India, where GDP contracted much more severely than expected in the second (June) quarter.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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