It may take some time to recover from the shock to the Indian economy due to Corona epidemic. According to the recent Economic Outlook report of the International Monetary Fund (IMF), the same picture is coming out. According to this IMF report, in this calendar year 2020 (January to December), India per capita GDP will fall to even below Bangladesh. This would be due to the bad effect of the lockdown.
According to the IMF report, India’s Per Capita GDP may fall by 10.3 per cent this year, while in Bangladesh this figure will not fall. The IMF believes that per capita GDP in Bangladesh may increase by 4 percent this year. For some time, India was ahead of Bangladesh in terms of capit GDP but the increasing exports of Bangladesh reduced the growing gap of both countries.
According to the IMF report, if this time the performance of the economy remains that only Pakistan and Nepal will be left behind by India. Apart from this, other countries of South Asia, Bhutan, Sri Lanka, Maldives and Bangladesh will be ahead of India. The projection of IMF is worse than the projection made by RBI. The RBI has predicted a 9.5 percent shrinkage in the economy this financial year. Apart from this, the World Bank has also predicted a 9.6 percent fall in this financial year. The World Bank has called the situation in India the worst ever. According to IMF, the Indian economy is going through the biggest crisis since 1990-91.
