India's COVID-19 surge threatens growth prospects: IMF official

The surge of COVID-19 cases in India threatens the country's growth prospects, Jonathan D. Ostry, International Monetary Fund's Deputy Director of Asia and Pacific Department said. "The current surge in infections presents a worrisome downside risk revision," he added. Last week, IMF had upgraded its growth projection for India to 12.5% for FY22 from its January estimate of 11.5%.