Current Affairs

IMF Growth Forecast for India

Current context: International Monetary Fund (IMF) has further cut the annual growth forecast for India for 2019-20.
IMF Growth Forecast for India
  • The IMF has updated the growth forecast of 7% with a cut of 0.3% from April forecast of 7.3 %.
  • The IMF’s World Economic Outlook July update has also cut India’s growth forecast in 2020-21 to 7.2% from its previous estimate of 7.5%.
  • The downfall of 0.3 percentage points for both years reflects a weaker-than-expected outlook for domestic demand.
  • The IMF had cut India’s growth forecast for 2019-20 to 7.3% in April, which was 0.2 % points lower than the January forecast.
  • The IMF has cut its forecast for world GDP growth by 0.1 % point each in 2019 and 2020 to 3.2% and 3.5%, respectively.
  • The latest estimates of the global financial institution and various other agencies range between 6.6 and 7.5 %. The IMF follows ADB, Fitch and the RBI in slashing the earlier projection. All of them have commonly highlighted that both investment and consumption demand is currently low in India.

Question: 

Q.1 Which among the following report is published by the International Monetary Fund (IMF)?
a. World Development Report
b. World Economic Outlook Report
c. Global Economic Prospects
d. World Economic Situation and Prospects Report
e. Both b and c are correct
IMF Growth Forecast for India IMF Growth Forecast for India Reviewed by Neha Verma on July 24, 2019 Rating: 5

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