IMF raises India's growth forecast for FY22 to 12.5%

[Chakar The Great]

Impressive!! Really!! Do you trust these figures and analysis!!
What is the real death figures from Covid-19 in India!!
The estimates are that covid-19 deaths are 10 time as high as declared.

Yesterday the death tolls figures in India were 3614, which with 10 times true figures makes it 36,140 people dead in just one day.

Deaths in one week from Covid-19 are 26,702 multiply by 10 , the actual death toll is 267,020 and week before it was 28,977 , in actuality it is 289,770.

You call it impressive !!!

These are not Indian figures. These are IMF figures. Why cant we trust figures ?

 

[alphapak]

India was meant to be a superpower in 2020 lol.

 

[Rank]

 

[graphican]

These are not Indian figures. These are IMF figures. Why cant we trust figures ?

Either IMF is lying or other state statistics are incorrect.

With 10 Million Job Losses In May Due To COVID, India Inching Towards Double-Digit Unemployment Rate

With 10 Million Job Losses In May Due To COVID, India Inching Towards Double-Digit Unemployment Rate According to the Center for Monitoring Indian Economy (CMIE), India's jobless rate hiked to a near one-year high of 14.73 percent in the week ending May 23, exhibiting the effects of the economic...

defence.pk

Before the Covid, the Indian economy was in a terrible state.

• https://theprint.in/economy/indian-...jit-banerjee-nobel-prize-economy-2019/306151/
• https://www.ft.com/content/6efe817a-12a7-11ea-a7e6-62bf4f9e548a
• https://www.indiatoday.in/news-anal...-india-rides-out-the-storm-1624375-2019-12-02

 

[Indus Pakistan]

Impressive!!

Yes, indeed. Bluster and brag is endemic to Indian culture. We all as human beings have tendancy to stretch things [although as a people British tend to be modest and understated] but Indians take it to another level. You really think I believe any numbers that come out of India?

Yes, they have improved considerably over the last three decades but that improvement is from a very low base - naked and emaciated. Today they managed to cover their bodies and get to nibble at some dal but now they think they are China or USA.

That does not cut with me. I often watch vlogs from people who travel to India to see a insight into India. The composite I have drawn from the varied sources is India remains a filthy, poverty stricken, chaotic mess drowning in swamp of pollution. Pakistan by comparison is a haven.

 

[crankthatskunk]

These are not Indian figures. These are IMF figures. Why cant we trust figures ?

True, when IMF says it is always true, right!!
What did IMF predicted would be Indians growth!!

 

[faithfulguy]

True, when IMF says it is always true, right!!
What did IMF predicted would be Indians growth!!

Actually, he might be right. India GDP fell by 10+% in 2020. If it grows by 12% in 2021, it would be back to where it was before. Back to around 2019 GDP, minus millions in death.

 

[Syed1.]

Think IMF forgot the minus sign

 

[Big_bud]

It is highly unlikely that the real growth would be of that sort. Numbers can be fudged easily and stand alone they do not mean anything. During Nawaz Sharif time Pakistan was having 5-6% growth. But it was all debt lead growth. You take loans to spend money, it causes inflation and more poverty in the long run but provides temporary relief and a wrong sense of growth in the short run. Most of this money goes to rich business men, politicians, bureaucrats, senior govt. officials etc. in kick backs & commissions but country on the whole is under more debt, worse off and the poor suffer more.

Growth of this sort does not mean anything. India has recorded current account deficit of 1.7 Billion USD whereas they had a 15.1 billion surplus in the previous quarter. It means government is spending more than the country is making. Pakistan was doing the same under that traitor of a person Nawaz. Fortunately now we are reporting current account surplus despite Covid in Pakistan.

There also has been 3% increase in external debt of India. Real figures of 2020-2021 have not been published yet and I highly doubt those won't be white washed to paint a better picture. Any government would do that after having a catastrophic year like India's. Moody's rating for India has fallen to Baa3 with a negative outlook. However India has massive population, they do have potential to kick back up if government acts responsibly. If they do manage some good real growth while keeping borrowings low, then Kudos to them! But seems less likely.

It seems less likely that under Modi they won't have any real development specially on grass root level. Modi also did some real damage to the Indian economy with lockdowns. A lot of call centers, IT and technical support centers of various large cellular and tech companies have now shifted their business back to their home countries forever because Modi panicked and imposed a country wide lock down. Suddenly there were no call centers and support for 1000s of businesses. I am pretty sure they will not shift it back ever again, not in near future. Here in Australia Optus telecom had their call centers in India, people were already not very happy about it because the service was just too dumb! English was poor, they had no decision making power and no access to information. The Indian tech support personnel would just bombard you time and again with troubleshooting questions and could not solve anything else. Now they have closed all Indian offices.

If Indian media was remotely free, public would have known how bad this year had been. However unfortunately, most of the Indian media is government paid and highly biased. Good luck to them though, real progress and betterment of the region can only come through peace and better ties with neighboring countries. There is no need to harbor hate or grudge against each others.

 

[siegecrossbow]

GDP is the measure of all economic activities so stuff like fuel consumption counts too.

 

[Nasr]

IMF raises India's growth forecast for FY22 to 12.5%

India is the only country expected to register a double-digit growth this fiscal.

International Monetary Fund (IMF) on Tuesday raised its growth forecast for Indian economy by 100 basis points to 12.5 per cent for fiscal year 2021-22.

In its latest edition of World Economic Outlook, IMF said it expects India's GDP to grow 12.5 per cent in FY22, the highest among emerging and advanced economies. GDP growth for FY23 is pegged at 6.9 per cent.

India is the only country expected to register a double-digit growth this fiscal.

"For the emerging and developing Asia regional group, projections for 2021 have been revised up by 0.6 percentage point, reflecting a stronger recovery than initially expected after lockdowns were eased in some large countries (for example, India)," IMF said.

After an estimated contraction of -3.3 per cent in 2020, the global economy is projected to grow at 6 per cent in 2021, moderating to 4.4 per cent in 2022. The contraction for 2020 is 1.1 percentage points smaller than projected in the October 2020 World Economic Outlook, reflecting the higher-than-expected growth outturns in the second half of the year for most regions after lockdowns were eased and as economies adapted to new ways of working, IMF said.

The contraction could have been three times as large if not for extraordinary policy support. "Thanks to unprecedented policy response, the COVID-19 recession is likely to leave smaller scars than the 2008 global financial crisis. However, emerging market economies and low-income developing countries have been hit harder and are expected to suffer more significant medium-term losses," the report said

IMF chief economist Gita Gopinath said the upgrades in global growth for 2021 and 2022 are mainly due to upgrades for advanced economies, particularly a sizeable upgrade for the United States (1.3 percentage points) that is expected to grow at 6.4 per cent this year.

"Other advanced economies, including the euro area, will also rebound this year but at a slower pace. Among emerging markets and developing economies, China is projected to grow this year at 8.4 per cent. While China's economy had already returned to pre-pandemic GDP in 2020, many other countries are not expected to do so until 2023," Gopinath said.

Yeah sure .... and the International Space Station has reported cows jumping over the moon too!!!

 

[Imran Khan]

45% in 2023

 

[lonelyman]

IMF raises India's growth forecast for FY22 to 12.5%

India is the only country expected to register a double-digit growth this fiscal.

International Monetary Fund (IMF) on Tuesday raised its growth forecast for Indian economy by 100 basis points to 12.5 per cent for fiscal year 2021-22.

In its latest edition of World Economic Outlook, IMF said it expects India's GDP to grow 12.5 per cent in FY22, the highest among emerging and advanced economies. GDP growth for FY23 is pegged at 6.9 per cent.

India is the only country expected to register a double-digit growth this fiscal.

"For the emerging and developing Asia regional group, projections for 2021 have been revised up by 0.6 percentage point, reflecting a stronger recovery than initially expected after lockdowns were eased in some large countries (for example, India)," IMF said.

After an estimated contraction of -3.3 per cent in 2020, the global economy is projected to grow at 6 per cent in 2021, moderating to 4.4 per cent in 2022. The contraction for 2020 is 1.1 percentage points smaller than projected in the October 2020 World Economic Outlook, reflecting the higher-than-expected growth outturns in the second half of the year for most regions after lockdowns were eased and as economies adapted to new ways of working, IMF said.

The contraction could have been three times as large if not for extraordinary policy support. "Thanks to unprecedented policy response, the COVID-19 recession is likely to leave smaller scars than the 2008 global financial crisis. However, emerging market economies and low-income developing countries have been hit harder and are expected to suffer more significant medium-term losses," the report said

IMF chief economist Gita Gopinath said the upgrades in global growth for 2021 and 2022 are mainly due to upgrades for advanced economies, particularly a sizeable upgrade for the United States (1.3 percentage points) that is expected to grow at 6.4 per cent this year.

"Other advanced economies, including the euro area, will also rebound this year but at a slower pace. Among emerging markets and developing economies, China is projected to grow this year at 8.4 per cent. While China's economy had already returned to pre-pandemic GDP in 2020, many other countries are not expected to do so until 2023," Gopinath said.

IMF forgot the negative sign

 

[Protest_again]

IMF forgot the negative sign

Lol. Watch this space.