Follow real-time updates on Union Budget 2023Catch exclusive videos on Union Budget 2023 from CNBC-TV18
IMF says recent jump in COVID-19 cases in India posed downside risks to the Fund's April forecast for 12.5% growth in India's economic output in fiscal years 2021 and 2022
The International Monetary Fund said on Thursday the recent jump in COVID-19 cases in India posed downside risks to the Fund's April forecast for 12.5% growth in India's economic output in fiscal years 2021 and 2022.
Recommended ArticlesView All
World Cancer Day 2023: Early detection is crucial for reducing the global burden
Feb 4, 2023 IST5 Min(s) Read
World Cancer Day 2023: A way forward to better management of cancer this year!
Feb 4, 2023 IST6 Min(s) Read
Pakistan economy at alarming level as foreign reserves drop to $3.1 billion from $16.6 billion in a year
Feb 3, 2023 IST3 Min(s) Read
FM Nirmala Sitharaman speaks on inflation, taxes, GDP and more. Read the full interview here
Feb 3, 2023 IST37 Min(s) Read
The IMF will revisit that forecast when it issued a fresh World Economic Outlook in July, IMF spokesman Gerry Rice told reporters at a regular briefing, but gave no further details.
He said the developments in India, the world's second most populous nation, would have spillover effects for the region and the global economy, depending on how long the crisis lasted, but it was too soon to give specifics.
"We're all watching what is happening in India with concern," Rice said. "There will be spillovers … contingent on how deep and how long the severity of this crisis continues."
India, with a population of 1.3 billion people, reported a record 412,262 new COVID-19 cases on Thursday and a record 3,980 deaths, as a second wave of infections swamped its healthcare system.
COVID-19 infections in India have surged past 21 million, with a death toll of 230,168, health ministry data showed.
Medical experts say India's actual figures could be five to 10 times the official tallies.