NEW DELHI – Indian economy faces s downward setback, reveals InternationalMonetary Fund.India’s GDP growth projection has been downgraded.
IMF has downgraded Indian growth rate to 6.1 per cent in 2019, theInternational Monetary Fund said on Tuesday. The new IMF projection is 1.2per cent down from its April projections. IMF said India will grow at 7.3per cent in 2019. Three months later, however, the IMF projected a slowergrowth rate for India in 2019, a downward revision of 0.3 per cent.
As against India’s real growth rate of 6.8 per cent in 2018, the IMF in itslatest World Economic Outlook projected India’s growth rate at 6.1 per centin 2019 and noted that the Indian economy is expected to pick up the nextyear at 7.0 per cent in 2020.
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On Sunday, the World Bank in its latest edition of the South Asia EconomicFocus said India’s growth rate is projected to fall to 6 per cent in 2019from 6.9 per cent of 2018.
