IMF Projects Further GDP Plunge, How Much Longer to Gain Normalcy?

India’s economic growth is likely to contract by 10.3 percent in financial year 2020-21, falling below Bangladesh in terms of the per capita GDP — that's what the IMF has projected in its latest World Economic Outlook report. This is a big downward revision from its previous forecast in June when the IMF had predicted a 4.5% contraction in the current fiscal. Though India is expected to see the biggest contraction projected among major emerging markets amid the pandemic, the economy is likely to bounce back with an impressive 8.8 percent growth rate next year and even regain its position as the fastest growing emerging economy. The IMF also projected that India will surpass Bangladesh again in 2021. But how long will it take for the economy to recover to the pre-COVID times? What has India done so far and what more measures can the government take to speed up the process of the recovery? Tune in to The Big Story! Producer and Host: Shorbori Purkayastha Guests: Gita Gopinathan, IMF Chief Economist Uday Kotak, MD of Kotak Mahindra Bank Editor: Shelly Walia Music: Big Bang Fuzz Listen to The Big Story podcast on: Apple: https://apple.co/2AYdLIl Saavn: http://bit.ly/2oix78C Google Podcasts: http://bit.ly/2ntMV7S Spotify: https://spoti.fi/2IyLAUQ Deezer: http://bit.ly/2Vrf5Ng Learn more about your ad choices. Visit megaphone.fm/adchoices