Washington: The government is constantly under attack from the opposition due to the deterioration in the economy. The government is denying any such slowdown in the country. But around the world, many economic institutions are predicting a cut in India's growth rate. After the World Bank, now the International Monetary Fund has also joined this link. The IMF has cut its estimate of India's economic growth rate by 1.2 percent this year. The IMF has estimated that India's GDP (GDP) growth rate will be 6.1 percent this year. This agency had estimated in April that India's growth rate in 2019 would be 7.3 percent.
The IMF, however, has projected India's GDP growth to rise to 7 percent in 2020. The IMF had said in April this year that India's economic growth rate in the current financial year (2019--20) will be 7.3 percent. However after 3 months this estimate was cut by 0.3 percent. India's growth rate in 2018 was 6.9 per cent. The IMF has also reduced global economic growth forecast to 3 percent in 2019. It was 3.8 per cent last year. Let us tell you that earlier the World Bank had reduced India's economic growth forecast to 6 per cent.
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