IMF revises downward India’s economic growth to 4.8% for 2019-20

- IMF chief economist Gita Gopinath says growth in India slowed sharply ‘owing to stress in the nonbank financial sector and weak rural income growth’
- Global growth will increase modestly from 2.9% in 2019 to 3.3% in 2020 and 3.4% in 2021, says IMF