Outlook for India’s economy bleak, say IMF and Barclays2 min read . Updated: 15 Apr 2020, 12:56 AM IST
- IMF expects FY20 growth at 4.2% as against 5% estimated by the statistics department
- Barclays also pared its growth forecast for India to 0% for calendar year 2020
NEW DELHI : The International Monetary Fund (IMF) on Tuesday slashed its FY21 growth projection for India to 1.9% from 5.8% projected in January, holding that the ‘Great Lockdown’ to combat the covid-19 outbreak will throw the world economy into the worst recession since the Great Depression in 1930s.
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