International Monetary Fund (IMF) on Thursday said that India's economic growth is 'much weaker' than expected due to corporate and environmental regulatory uncertainty and 'lingering weakness' in some non-Bank financial companies. 'Again, we will have a fresh set of numbers coming up but the recent economic growth in India is much weaker than expected, mainly due to corporate and environmental regulatory uncertainty and lingering weakness in some non-Bank financial companies and risks to the outlook are tilted to the downside, as we like to say,' IMF spokesman Gerry Rice told reporters at a news conference.
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Watch IMF says India's growth rate weaker than expected With HD Quality.
International Monetary Fund (IMF) on Thursday said that India's economic growth is 'much weaker' than expected due to corporate and environmental regulatory uncertainty and 'lingering weakness' in some non-Bank financial companies. 'Again, we will have a fresh set of numbers coming up but the recent economic growth in India is much weaker than expected, mainly due to corporate and environmental regulatory uncertainty and lingering weakness in some non-Bank financial companies and risks to the outlook are tilted to the downside, as we like to say,' IMF spokesman Gerry Rice told reporters at a news conference.
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Watch IMF says India's growth rate weaker than expected With HD Quality
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ऐसे कैसे होगा देश का विकास ? | IMF ने विकास दर अनुमान घटाया | IMF Cuts India's Growth Forecast
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IMF Chief Economist Gita Gopinath on Monday flagged weakening global growth at a rate higher than expected and said emerging economies are also facing risks triggered by capital flows due to US actions and currency depreciations. IMF has projected global growth at 3.5 per cent in 2019 and 3.6 per cent in 2020, 0.2 and 0.1 percentage point below its October projections.
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The world economy is slowing to its weakest pace since the global financial crisis, as the US-China trade war undercuts business confidence and investment, the IMF said Tuesday. WEO said India's growth in 2019 is sharply lower than the 6.8 per cent in 2018 'for idiosyncratic reasons, but is expected to recover in 2020'. The reduction in India's growth projection for this year 'reflects a weaker-than-expected outlook for domestic demand', WEO said. However, India still retains its rank as the world's fastest-growing major economy, tying with China, with a projected growth rate of 6.1 per cent for the current fiscal year.
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