The IMF on Tuesday slashed India's GDP growth projection for the year 2019 to 6.1 per cent, which is 1.2 % down from its April projections. The International Monetary Fund (IMF) in April said india will grow at 7.3% in 2019. However, three months later it projected a slower growth rate for india in 2019, a downward revision of 0.3%.
As against India's real growth rate of 6.8% in 2018, the IMF in its latest World Economic Outlook projected India's growth rate at 6.1% in 2019 and noted that the Indian economy is expected to pick up the next year at 7.0% in 2020. On Sunday, the World Bank in its latest edition of the south Asia Economic Focus said India's growth rate is projected to fall to 6% in 2019 from 6.9% of 2018.
The downward revision relative to the April 2019 WEO of 1.2 percentage points for 2019 and 0.5 percentage point for 2020 reflects a weaker-than-expected outlook for domestic demand, the IMF said.