Is India’s economy better than other countries?

Claim

India is far better than all the major economies in the world.

Rating

Description

The table above is being shared on social media that India will be better than all the major economies in the world by 2020. This post has been published on the Facebook page of Kadir News, the BJP’s support page in Tamil. Earlier, the same rankings were published on the official Twitter page of the BJP on August 22.

Twitter link | archive link 

The BJP tweeted that “India will be a bright country with positive growth by 2020 and will sustain a fast-growing economy as the world continues to slump with major economies predicted to record negative growth after the COVID-19 outbreak.”

The above rankings show that India has a GDP growth rate of 1.9 and China 1.2, while other countries are facing a decline. We decided to explore the truth.

According to the International Monetary Fund (IMF), India’s GDP growth is projected at 1.9% by 2020. India’s GDP growth forecast of 1.9% is true, but not recent. They are currently sharing what was released in April when the corona vulnerability began to increase.

The IMF released the World Economic Outlook (WEO) last April. Of these, only a few countries, India and China, were estimated to be moving towards positive growth. But in June, estimates were reversed. The International Monetary Fund has forecasted that India’s economic growth will slow to (-) 4.5% in FY21. This is stated in another report released in June.

They have not released an estimate of the Indian economy released in June but have released an estimate in April before that.

Conclusion

In our search, we can see that the data released by the IMF in April, which estimates that India is better than all the major economies in the world, but according to June data they predict that the Indian economy will shrink by (-) 4.5%.

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