IMF says India’s growth ‘much weaker’ than expected; cuts FY20 projection
IMF says India’s growth ‘much weaker’ than expected; cuts FY20 projection The economic growth slowed to a seven-year low to 5 per cent in April to June quarter from 8 per cent a year ago, as per the government data Current Affairs :- Global Monetary Fund (IMF) on Thursday said that India’s monetary development is “a lot flimsier” than anticipated because of corporate and natural administrative vulnerability and “waiting shortcoming” in some non-Bank budgetary organizations. “Once more, we will have a crisp arrangement of numbers coming up however the ongoing monetary development in India is a lot more fragile than anticipated, fundamentally because of corporate and natural administrative vulnerability and waiting shortcoming in some non-Bank money related organizations and dangers to the standpoint are tilted to the drawback, as we like to state,” IMF representative Gerry Rice told columnists at a news gathering. The monetary development eased back to a seven-year ...