The Indian economy will increase by 11.5% in 2021-22 and 6.8% in 2022-23: IMF

On Tuesday The Indian economy is estimated to post a narrower contraction of 8% in the current financial year but is projected to report double-digit expansion next year as well as in 2022-23, the International Monetary Fund (IMF) said. IMF, which released its update to the World Economic Outlook report, showed that the Indian economy will increase by 11.5% in 2021-22 and 6.8% in 2022-23 as the economy gathered momentum after the arrival of the vaccine and pick-up in economic activity.