Indian Economy to grow at 11.5% in 2021 say IMF

[aesma]

Keep in mind this is recovery rather than outright growth (same for other countries). For people who weren't too affected economically by the pandemic, they shouldn't expect a change either. The number will come from things restarting, people out of a job getting back to work, etc.

[teosanru]

Indian seen growing by 11.5% in FY22; global outlook improves, say IMF in latest World Economic Outlook report.
       World Economic Outlook Reports
A Survey by the IMF staff usually published twice a year. It presents IMF staff economists' analyses of global economic development during the near and medium term. Chapters give an overview as well as more detailed analysis of the world economy; consider issues affecting industrial countries, developing countries, and economies in translation to the market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.
 
For more information about this: https://m.timesofindia.com/business/india-business/imf-projects-11-5-gdp-growth-experts-say-india-to-achieve-5-trillion-economy/amp_articleshow/80475641.cms

      Is this possible?

This Estimate is after a fall of more than 12% in the year 2020 which is the actuals data while 11.5% is an estimate projection. I think growing 11.5% it's isn't even coming back to the pre-covid stage. While most of the countries would revive post covid one big reason for Indian Revival is its service industry. While manufacturing Industry has been hit badly due to covid restrictions service industry has grown even bigger due to work from home and the service Industry getting a huge demand. While services can be availed remotely through virtual access same isn't true for manufacturing. India's IT hub was actually never hit that much. Most of the employers were anyways looking for a huge load shed Covid was just an excuse for them.

[CarnagexD]

Is this the realization of the "India Superpower by 2021" meme?

Jokes aside, the world has always seen India as a melting pot of both the positives and negatives of the human condition, on one part, we see uneducated people who have trouble even using a proper toilet seat, while on the other hand, a progressive and promising country shines upon the world. If I must say, this is interesting, and I'd like to watch the country grow more, not only in the economic sector, but in the people sector too.

[Sithara007]

Is this the realization of the "India Superpower by 2021" meme?

Jokes aside, the world has always seen India as a melting pot of both the positives and negatives of the human condition, on one part, we see uneducated people who have trouble even using a proper toilet seat, while on the other hand, a progressive and promising country shines upon the world. If I must say, this is interesting, and I'd like to watch the country grow more, not only in the economic sector, but in the people sector too.

The problem is that the uneducated people are increasing in number while more and more educated people are trying to emigrate to other countries. Successive governments have made life hell for the salaried class, with ever increasing taxes. The tax-paying group, which comprises of 2% to 3% of the total population have to bear the burden of subsidizing the remaining freeloaders, who constitute 97% to 98% of the population. Indian is an example of classic democracy, where groups with larger population dictate the government policy making. Unless this structure is changed, India will remain as a third world country.

[amishmanish]

Post COVID, Indian population has actually seen a huge workforce which is no ready to do more for less. People have been on tenterhooks for really long. Some lost jobs, some lost relatives but there have been a few unexpected positives. The Vaccine effort and handling of the pandemic has been better than most parts of the world. There have been certain structural reforms underway over the last few years which resulted in losses to small businesses but are beneficial for the long run.

This is really just a "can't go any lower" kind of point in the curve. The only way to go is up. Wages are seeing a rebound and I expect major IT employers to announce bonuses and deferred salaries. All of this is pointing towards increased consumption in the short-term and hence the positive outlook, imo.

[justdimin]

Whatever they are doing there, we need it RIGHT NOW here . I don't know how they grew that quickly that fast, and I know that India is rivaling china right now, which is a huge nation with a very big power so actually being in competition with China is a big marvelous thing for India. However one thing I am not sure about right now is the fact that other nations may not copy what they did.

Many nations (maybe India too, I don't know them) have very bad politicians that keep the nation from growing, if you keep the nation poor enough they will always need you and you will always be capable of saying "I will save you" to get votes, if a nation has rich people everywhere, no homelessness, no unemployment, very good life, that means why would they vote for anyone to begin with? They may not even go out to vote, because things are good. So, many politicians in my country just keep the country bad so they can try to get votes from poor with promises of better future.

[MCobian]

I hope the news is true that the Indian economy can recover in 2021, because all countries in 2020 are experiencing a sizeable economic crisis.
Seeing the Indian government moving quickly in overcoming the COVID-19 problem, this might be the cause for the recovery of the Indian
economy. I hope that not only India's economy can recover, but all countries in the world. Hopefully this year we can really stop the spread of
COVID-19, because if COVID-19 can be stopped, the economic recovery in India and around the world can be much faster.

[doomloop]

Last two days I saw news about it on NDTV, not the one of IMF, this was just a totally different news and they were saying that the India’s economy will clock 7.3% growth in this 2021. Then another news I saw on Economic Times says that their economy is one of the fastest rising economy in the world. That’s good to know, because before now it hasn’t been all that positive, and now here’s also the IMF news.

So, that is really great that at this time the world has been hit by a serious pandemic they are able to push through it.

[fiulpro]

Indian seen growing by 11.5% in FY22; global outlook improves, say IMF in latest World Economic Outlook report.
       World Economic Outlook Reports
A Survey by the IMF staff usually published twice a year. It presents IMF staff economists' analyses of global economic development during the near and medium term. Chapters give an overview as well as more detailed analysis of the world economy; consider issues affecting industrial countries, developing countries, and economies in translation to the market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.
 
For more information about this: https://m.timesofindia.com/business/india-business/imf-projects-11-5-gdp-growth-experts-say-india-to-achieve-5-trillion-economy/amp_articleshow/80475641.cms

      Is this possible?

Would this still be relevant if the cryptos gets banned and I do believe this would take away some of the percentage from right there. I have some questions.
- Will the current riots have no impact ?
- The Pandemic might be controlled and the vaccination might work but people are having some side effects from the second vaccination.
- Global trades are supposed to grow by 2021 itself and it's good that apple and other companies are seeing the so called potential in India , but let me tell you what that potential is:
Potential for them is people who are willing to work for the least wage a person can offer , they pick out people from the factories and offer them even lower than the lowest salary itself. The minimum wage of India for 8 hours is actually 3$ !! BUT that's on the documents but in reality people are paid so less that I can write a whole documentary about their situation.
So the Rich will get Richer
Poor will get poorer
Economy will grow
But will be hollow inside !!
( It's high time that the government adjusts these strategies and start getting involved with their own country more right now , global trade is not as important as the local problems , you might get a 5% increase but at least the local economy will be stronger , we fail to realize the concept of local economy more and more these days )

[aesma]

I doubt there is a lot of BTC in India, so whatever the government does it can't have that big an impact. Are there any known Indian BTC whale ?

[2double0]

I doubt there is a lot of BTC in India, so whatever the government does it can't have that big an impact. Are there any known Indian BTC whale ?

I know many traders in India personally who trade above 1k btc on a daily basis and such whales will not let their business shut down so easily. The path that Indian government chose is not the right one as they did not adopt internet in its early days which is why they were 10 years behind 'in terms of dealing with it' where many countries adopted it early. They are doing the same with crypto and will regret later.

[romero121]

There is active growth when viewed from the outside, but it lacks a lot starting from education and housing. Lot of things need to change. When a government isn't ready to accept its people's mind then there won't be any growth. Everything will be portrayed and given an outline as growth.

No offense, just think of the farmers protest. It started during the month of August and till date the government isn't ready to accept the farmers suggestion. If this is how a government rules, then growth will be in negative value. The government is much focused on building statue than the people's need. The government need to think, 20% of the country's GDP is from the farming community.

[Sithara007]

There is active growth when viewed from the outside, but it lacks a lot starting from education and housing. Lot of things need to change. When a government isn't ready to accept its people's mind then there won't be any growth. Everything will be portrayed and given an outline as growth.

No offense, just think of the farmers protest. It started during the month of August and till date the government isn't ready to accept the farmers suggestion. If this is how a government rules, then growth will be in negative value. The government is much focused on building statue than the people's need. The government need to think, 20% of the country's GDP is from the farming community.

The current ruling party and its politicians became quite arrogant after their second win in 2019. They won with greater number of seats and greater vote share compared to 2014. This made them overconfident and now they think that they can make whatever laws of their liking. When the UPA was ruling India (2004-14), they didn't had a majority on their own, and therefore they used to consult other parties before coming up with important laws. But this government doesn't care about anyone else and that is applicable for their allies as well. Some of their allies such as SAD and SHS have already left the alliance. Others are getting obsolete, contesting less number of seats year after year.

[jaberwock]

The current ruling party and its politicians became quite arrogant after their second win in 2019. They won with greater number of seats and greater vote share compared to 2014. This made them overconfident and now they think that they can make whatever laws of their liking.

Well, it seems my country is not the only one that’s facing an issue like this, people supported the wrong party and now they have learnt their lessons. We used to think that things very bad back when the other party was ruling the country, and now we have seen the worst, things has gotten really worst than what it used to be back then and everyone has finally learnt their lessons.

Moreover, the one thing I have learnt about these politicians is that during their first tenure they try to pretend to be good so that they can get another votes and when they get in the second time they will start misbehaving and showing their bad sides.

[aioc]

It seems to me that these figures do not reflect the actual situation in the world. Just today, I came across a forecast for the development of the world economy for this year and it says that the world economy in 2021 will fall by 3.5 percent. I think that these figures are quite optimistic and not entirely accurate. The economies of all states continue to suffer material losses due to the ongoing fight against the coronavirus pandemic, and we do not yet know when and with what losses it will end. I don't think India's economic situation is different from the rest of the world.

I share your belief, how can they be when they are on top of the CoVid standing, what makes them different from other countries, even the United States and some European countries are suffering, I have some friends coming from India and they too are complaining of economic hardship, I could have believed it if we are not in a pandemic, and the world economy is collapsing.

[just_Alice]

The current ruling party and its politicians became quite arrogant after their second win in 2019. They won with greater number of seats and greater vote share compared to 2014. This made them overconfident and now they think that they can make whatever laws of their liking.

Well, it seems my country is not the only one that’s facing an issue like this, people supported the wrong party and now they have learnt their lessons. We used to think that things very bad back when the other party was ruling the country, and now we have seen the worst, things has gotten really worst than what it used to be back then and everyone has finally learnt their lessons.

Moreover, the one thing I have learnt about these politicians is that during their first tenure they try to pretend to be good so that they can get another votes and when they get in the second time they will start misbehaving and showing their bad sides.

You've just perfectly described the situation in my country! Our people have lost trust in all the politicians because they were all frauds and corruptionists. So, many people voted for the one candidate and party that gave hope because they were not politicians and seemed closer to understanding ordinary people. However, it turned out really bad, and taxes and prices are only increasing, while salaries remain the same. And now with this pandemic the country is closing up to a serious crisis, people can't afford the stuff they were used to anymore, small businesses are closing, etc.

My country has some hard-working and educated people, willing to rebuild the country, like in India. But, unfortunately, the government resists to help and makes the living conditions worse each year, which is why 95% of the smartest people are immigrating. The latter makes the economical situation even worse, but there's no stopping it unless some serious changes will happen, but I doubt that.

[Vishnu.Reang]

I share your belief, how can they be when they are on top of the CoVid standing, what makes them different from other countries, even the United States and some European countries are suffering, I have some friends coming from India and they too are complaining of economic hardship, I could have believed it if we are not in a pandemic, and the world economy is collapsing.

As far as COVID 19 is concerned, the Asian countries are doing pretty well. But that has more to do with the resistance shown by the population to Coronavirus. In most of the South Asian and South-east Asian countries, the fatality rate from COVID 19 has remained below the 1% level. I guess one of the reasons for this may be the continuous exposure that the population have, for various types of flu-viruses.

The economy is now slowly coming back to life and since the infection levels are remaining low, the government has removed lockdown restrictions. The case is different in EU and North America, where the restrictions are still in place and therefore the economic recovery is not possible. But the introduction of new strains can turn all this upside down. Already there are signs that some of the new strains have a higher mortality rate in India.

[Febo]

Indian Economy to grow at 11.5% in 2021 say IMF.
 Is this possible?

Yes. It declined for probably same amount in 2020. all economies will have huge growth their year. But what it really matters is when they will reach level from December 2019. This is important. China is already on those levels. I am sure few other countries also. Most is way below. Also India.

[aesma]

I share your belief, how can they be when they are on top of the CoVid standing, what makes them different from other countries, even the United States and some European countries are suffering, I have some friends coming from India and they too are complaining of economic hardship, I could have believed it if we are not in a pandemic, and the world economy is collapsing.

As far as COVID 19 is concerned, the Asian countries are doing pretty well. But that has more to do with the resistance shown by the population to Coronavirus. In most of the South Asian and South-east Asian countries, the fatality rate from COVID 19 has remained below the 1% level. I guess one of the reasons for this may be the continuous exposure that the population have, for various types of flu-viruses.

The economy is now slowly coming back to life and since the infection levels are remaining low, the government has removed lockdown restrictions. The case is different in EU and North America, where the restrictions are still in place and therefore the economic recovery is not possible. But the introduction of new strains can turn all this upside down. Already there are signs that some of the new strains have a higher mortality rate in India.

The population in these countries is much younger, and younger people are less susceptible to have severe cases of COVID. Less obesity than in the West, too.

[Dragonfund]

I doubt there is a lot of BTC in India, so whatever the government does it can't have that big an impact. Are there any known Indian BTC whale ?

Most of the BTC whales are very anonymous, if I'm opportune to be one, i would rather remain anonymous for the fear of safety. Telling the public that you are millionaire without safety or security is highly risky.
Has anyone notice that in almost all crypto projects we do have today, there is always one Indian guy as part of the team.
Indians are known for tech and they always sell where they are. Google CEO is an Indian guy and there are many 0f them that isn't popular yet but they are doing something. This is why there economy never rest but keeps improving as the world is now computing science.