India Set To Drop Below Bangladesh In 2020 Per Capita GDP In IMF Forecast

Wednesday, 14 October 2020Newsdesk

India is set to drop below Bangladesh in terms of per capita Gross Domestic Product (GDP) as the economy, according to the International Monetary Fund, is projected to contract by a massive 10.3 per cent this year. The IMF's forecast for India, a huge downward revision from its previous prediction in June, will see the biggest contraction among major emerging markets amid the coronavirus pandemic.

New Delhi, 14 Oct 2020

According to the IMF's ''World Economic Outlook'' report released on Tuesday, India's per capita GDP is set to plunge to $1,877 this fiscal year ending on March 31, 2021. The IMF's previous prediction in June said output would shrink 4.5 percent. Bangladesh per capita GDP in dollar terms is expected to grow to $1,888, according to the IMF report. As per news report of PTI, however, India, Asia's third-largest economy, is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, thus regaining the position of the fastest growing emerging economy, surpassing China's projected growth rate of 8.2 per cent, the IMF said.

Source -NDTV