The International Monetary Fund (IMF) lowered India’s economic growth estimate for the current fiscal to 4.8% and listed the country’s much lowerthan-expected GDP numbers as the single biggest drag on its global growth forecast for two years. In October, the IMF had pegged India’s economic growth at 6.1% for 2019. Compared to the October World Economic Outlook (WEO) forecast, the estimate for 2019 and the projection for 2020 represent 0.1 percentage point reduction for each year while that for 2021 is 0.2 percentage point lower.
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