Current Affairs

IMF downgrades India’s growth Projection to 6.1%

Current context: The International Monetary Fund (IMF) has slashed India’s GDP growth projection for the year 2019 to 6.1%.
IMF downgrades India’s growth Projection to 6.1%
  • 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:
    1. sector-specific weaknesses in the automobile sector and real estate.
    2. 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%
IMF downgrades India’s growth Projection to 6.1% IMF downgrades India’s growth Projection to 6.1% Reviewed by Neha Verma on October 18, 2019 Rating: 5

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