IMF has said that World Growth would fall to 0.5 per cent in 2009 on purchasing power parity basis, its lowest since World War-II. This projection was made in updated World Economic Outlook released in January 2009.
The IMF has projected India’s growth at 5.1 per cent during 2009.
As per Advance Estimates released by the Central Statistical Organisation (CSO), the growth rate of Gross Domestic Product (GDP) at factor cost at constant (1999-2000) prices for financial year 2008-09 (i.e. April 2008 to March 2009) has been estimated to be 7.1 per cent.
There is a range of growth rates which have been projected by different persons and bodies in various fora. The IMF projection for the year 2009 is on calendar year basis, which would roughly correspond to our financial year 2009-10 for which growth estimates are not yet available.
Indian government is taking a slew of measures to protect the economy from the adverse impact of the ongoing global financial crisis.
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