IMF revises downward India’s economic growth to 4.8% for 2019-201 min read . Updated: 20 Jan 2020, 07:30 PM IST
- 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
The International Monetary Fund (IMF) on Monday sharply revised downward India’s growth forecast by 130 basis points to 4.8% for 2019-20, which resulted in a subsequent downward revision in its world growth projection.
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