IMF gave good news about Indian economy amid announcement of RBI monetary policy

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According to the IMF, India’s growth rate in the current financial year 2021-22 will be 12.5 percent, which will be higher than China.

Geeta Gopinath has said that there are indications that economic activities are beginning to normalize in India.

Today, the decisions of the Second Monetary Policy Committee for the current calendar year were announced by the Reserve Bank, the RBI governor said, “GDP growth forecast for FY 2022 remains at 10.5 per cent.” According to him, real GDP growth of 10.5 per cent is possible in FY22. Meanwhile, International Monetary Fund (IMF) chief economist Geeta Gopinath has said that there are signs that economic activities are beginning to normalize in India. This is a news of relief for the Indian economy.

It is noteworthy that the Monetary Fund has estimated Mangwar’s economic growth to be a stunning 12.5 per cent in the current financial year in one of its estimates. This rate will also be higher than China. China was the only major economy that has shown growth in 2020. Before the summer annual meetings of the Monetary Fund and the World Bank, Gita Gopinath said that about India, “The evidence we are getting from the last two months shows that economic activities are normalizing.”

IMF puts growth rate minus 8 percent in 2020-21

The Monetary Fund has stated in its World Economic Outlook title report that India’s economic growth will be 6.9 percent in the next financial year (2022-23). The Indian economy is estimated to have a record contraction of 8 per cent in 2020-21, affected by the COVID 19 epidemic. In response to a question, Gopinath said that in relation to India, we have made a very small amendment, which is one per cent for 2021-22. Before the Mundra Kosh, India’s GDP was projected to grow by 11.5 per cent in the current financial year compared to 2020-21.

Inflation will depend on monsoon

Meanwhile, the Reserve Bank of India said on Wednesday that it expects retail inflation to remain at 5.2 per cent in the first half of the current financial year. The Reserve Bank has lowered the inflation estimate to five per cent for the quarter ending in March. RBI Governor Shaktikanta Das, while announcing the first policy review of the current fiscal on Wednesday, said that key inflation remained at the five per cent level in February 2021, although some factors challenged the easing of the upper limit (4 + 2%). Are generated. He said that the situation of food inflation going forward will depend on the progress of monsoon.

Reserve Bank’s estimate of retail inflation rate

He said that keeping in mind all these factors, CPI inflation has been revised to five percent in the fourth quarter of the financial year 2020-21. Similarly, inflation estimates are 5.2 per cent for the first and second quarter of FY 2021-22, 4.4 per cent for the third quarter and 5.1 per cent for the fourth quarter. Earlier, the central bank had estimated retail inflation to be 5.2 per cent in the fourth quarter of 2020-21.

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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