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India’s growth rate is expected to shoot up from the estimate of 4.8 per cent for the current fiscal year by 1 per cent to 5.8 per cent in 2020-21. The International Monetary Fund’s Chief Economist Gita Gopinath
News from the economic front is a mixed bag. By all accounts the immediate outlook is bad. But the chances of an early recovery are said to be bright.
The economic fallout from the coronavirus pandemic could inflict “significant scarring” worldwide and the outlook for recovery remains highly uncertain, IMF chief economist Gita Gopinath said on late Friday.
Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund said in its latest forecast.