Current context: The International Monetary Fund (IMF) has slashed India’s GDP growth projection for the year 2019 to 6.1%.
a. 5.9%
b. 6%
c. 6.1%
d. 6.2%
e. 7%
- In the IMF’s World Economic Outlook report released on 15th October 2019, IMF has downgraded India’s growth projection by 1.2% from its April projections.
- India suffered the sharpest cut, next only to Saudi Arabia, which saw a cut of 1.7 percentage points in the growth rate.
- It has said that India is expected to pick up at 7.0% in 2020.
- India had a real growth rate of 6.8% in 2018.
- The world economy is expected to grow by 3%, marginally lower than 3.2% projected in July.
- IMF has made a similar forecast for China and India, with the projected growth rate at 6.1% for both the countries. In China, the GDP grew at 6.6% in 2018.
- Reasons given in the report for slowdown include:
- sector-specific weaknesses in the automobile sector and real estate.
- lingering uncertainty about the health of nonbank financial companies.
Question:
Q.1 The International Monetary Fund (IMF) has slashed India’s GDP growth projection for the year 2019 to ______?a. 5.9%
b. 6%
c. 6.1%
d. 6.2%
e. 7%
