IMF projects India to grow at 1.9% in 2020; world to enter 'worst recession' since 1930s

International Monetary Fund has projected a growth rate for India of a meagre 1.9% for 2020, as vel Coronavirus pandemic and subsequent lockdown ravs ecomic activity in every sector. IMF also said world at large will be in its "worst recession since Great Depression" of 1930s. global money lender released its new World Ecomic Outlook on Tuesday.

According to IMF, global ecomy will plunge to -3.0% growth in 2020, only to rebound to 5.8% in 2021. vanced ecomies like those in West and East Asia will contract by a steep 6.1% in 2020 while emerging ecomies will see growth fall to -1.0%.

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Unexperienced collapse

Blaming COVID-19 pandemic, IMF chief ecomist Gita Gopinath said, " magnitude and speed of collapse of activity that has followed are unlike anything experienced in our lifetimes. Many countries face a number of crises, a health crisis, a financial crisis, collapse in commodity prices especially for exporters and all of this interact in complex ways."

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