India’s growth is expected to dip to 1.9% in 2020 and rebound to 7.4% in 2021, as per the WEO, which was released by the Fund on Tuesday. Also read: S&P lowers India’s growth forecast to 5.2% in 2020The global forecast is characterized by “extreme uncertainty”, the IMF warned. Fiscal support will need scaling up, if activity does not pick up sufficiently once restrictions are lifted or if economic activity stoppages are persistent. In China, where the coronavirus’s impacts were first recorded this year, first quarter economic activity could have contracted by 8% year on year. Apart from India’s modest 1.9% in 2020, Indonesia is expected to grow at 0.5%,while others in the region experience contractions.

Source: The Hindu April 14, 2020 13:11 UTC