The economy of the country remains strong even during the Corona period under the leadership of Prime Minister Narendra Modi. Despite the Corona crisis, the country received $ 27.1 billion of foreign direct investment (FDI) in April-August of 2020-21. This is 16 percent higher than the investment of $ 23.35 billion in the same period of 2019-20. According to the Ministry of Commerce and Industry, the total FDI in reinvestment grew by 13 percent to $ 35.73 billion during the period, compared to $ 31.60 billion in the first five months of FY 2019-20. With this, total FDI inflows jumped 55 percent to $ 358.29 billion in 2014 to 2020 compared to $ 231.37 billion in 2008 to 2014. According to the ministry, FDI has increased due to the reforms undertaken by the government in the last six years. Along with this, the policy bottlenecks that have been impeding investment flows have been overcome. Several steps have also been taken to facilitate investment and ease of doing business.
The International Monetary Fund (IMF) in its latest report on the ‘world economic scenario’ has said that India will overtake China next year. The IMF said that India’s economy is expected to decline in the current financial year due to Corona, but the economy will be able to make a quantum leap in the next financial year. The International Monetary Fund has said that the Indian economy is expected to register a strong growth of 8.8 percent in 2021 and will regain the status of the fastest growing emerging economy, overtaking China. China is projected to achieve 8.2 percent growth in 2021.
Even in the midst of the Corona crisis around the world, the International Monetary Fund recently made a big talk about the Indian economy. The IMF said that the growth rate of the economy in India will be the fastest. According to the World Economic Outlook report released by the International Monetary Fund, the year 2020 is going to be very bad for the global economy due to the Corona epidemic, but even then India will remain the fastest growing economy in the world. According to IMF, this year the global economy will witness the biggest decline since the Great Depression of 1930.
