The chief economist of the IMF Gita Gopinath has said that there is evidence of normalisation of economic activities in India, On Tuesday, the International Monetary Fund ( IMF) predicted a projected an impressive 12.5 percent growth rate for India in 2021, stronger than that of China, the only major economy to have a positive growth rate last year during the COVID-19 pandemic.

"There is evidence in the last couple of months showing normalisation of economic activity", IMF's chief economist Gita Gopinath said ahead of the annual spring meeting of the IMF and the World Bank here.

In its annual World Economic Outlook, the IMF said the Indian economy is expected to grow by 6.9 percent in 2022. In 2020, India's economy contracted by a record eight percent. on the other hand, compared to the previous projections early this team, the change in 2021 forecast is pretty small, she noted.

"In the case of India, we have a pretty small change. It's a one percentage increase for growth for 2021. This came in with high frequency," she said.

The global economy shrank by 4.3 percent last year, over two-and-a-half times more than during the global financial crisis of 2009.

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