COVID-19: IMF predicts the Indian economy to contract by 4.5%
IMF said the historic low contraction is an aftermath of a prolonged lockdown
The economic recovery was slower than it was anticipated in April
IMF expects global economy to shrink by 4.9% in 2020 against the earlier estimate 3%
The agency, however, predicts the global economy to bounce back with 5.4% growth in 2021
