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IMF cuts global growth forecast; downgrades India's growth projection to 6.1% in 2019

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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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