Current Affairs

IMF called for “Urgent Action” by India

Current context: The International Monetary Fund (IMF) has called for “urgent” policy action amid the acute slowdown to the reverse the current downturn.
IMF called for “Urgent Action” by India 
  • IMF has released its annual review report on 23rd Dec 19 and pointed out that India is now in the midst of a significant slowdown and only quick policy actions can reverse the slowdown.
  • The IMF also warned that at the current debt situation and interest payments, the Government of India has limited space to boost spending for supporting the growth.
  • The factors listed for the brake include Declining consumption and investment and falling tax revenue along with other factors.
  • The IMF has slashed its Real GDP forecast for 2019 by nearly a full point to 6.1% in October along with cutting the outlook for 2020 to 7.0%.
  • India's economy grew at its slowest pace at 4.5% in more than six years in the July-Sep period.

Question: 

Q.1 The International Monetary Fund (IMF) latest Real GDP projection for India for the year 2019 is ______ and for 2020 is ___________? 
a. 6%, 7.1%
b. 6.2%, 7.1%
c. 6.1%, 7%
d. 7.2%, 6.1%
IMF called for “Urgent Action” by India IMF called for “Urgent Action” by India Reviewed by Neha Verma on December 23, 2019 Rating: 5

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