- China’s GDP recorded 4.9% in third quarter
- IMF estimates raise concerns about India’s GDP
- Countries like Bangladesh, China, Nepal, Pakistan will also be down
China’s growth rate, the corona virus epidemic is returning to an earlier stage. According to the data released on Monday, the world’s second largest economy China’s GDP in the third quarter of fiscal year 2020-21 4.9% is recorded. These figures indicate that the economy in China is returning to an era of betterment and is rising to touch the earlier levels of the Corona epidemic. With the figures related to China’s economy coming up, economists have also speculated about other Asian countries. According to the International Monetary Fund (IMF) estimates of real-year gross domestic product (GDP) for the entire year, while Bangladesh and China have shown good recovery, India (India) proved to be the worst-performing country in Asia in this case. It is possible.
India’s economy was badly affected due to Corona epidemic. According to IMF estimates, India may fall below Bangladesh, Vietnam, China, Nepal, Pakistan and five other Asian countries with a decline of 10.3 per cent this year. Kaushik Basu, former Chief Economic Advisor of the Union Ministry of Finance, issued a warning to the government saying, “A few years ago no one thought that India’s economy would be in such a state. Part of this is due to Kovid-19 but only a part. Do not ignore the data. There are mistakes, accept this and take corrective measures. Use the talent and expertise present in the country. ‘
Even a few years ago none could have imagined India’s economy being where it is. A part of this is caused by Covid, but only a part — see Table. Lessons: Don’t be in data denial. Mistakes happen — admit & take corrective action. Use the talent & expertise available in the country. pic.twitter.com/5HbWgwufGW
– Kaushik Basu (@kaushikcbasu) October 19, 2020
However, India, Asia’s third largest economy, can recover from this situation and return to growth rate of 8.8 percent in 2021. The IMF has said that in 2021 the Indian economy will probably register a strong growth of 8.8 percent and it will regain the status of a rapidly growing emerging economy, leaving China behind. China is projected to achieve 8.2 percent growth in 2021.
Bangladesh-IMF can beat India in GDP growth