Washington: The International Monetary Fund (IMF) said on Wednesday that the Indian economy could decline by 4.5 percent in 2020 and that it would be a historic decline. It has said that due to the Corona virus epidemic and its prevention measures, most economic activity is expected to come down to such a huge decline. However, the fund estimates that in 2021, the country will return to the fast track and may see a strong economic growth of 6.0 percent that year.
The IMF forecast a 4.9 percent drop in global growth in 2020. This is down 1.9 percent from the estimate of the world economic scenario released in April 2020. Geeta Gopinath, the chief economist of the Monetary Fund, said on the occasion of the release of the updated world economic scenario, “Looking at this critical crisis, we estimate that the economy will decline by 4.5 percent in 2020. This estimate is historically down. Almost all countries have this situation. “