India maintained its ‘world’s fastest-growing economy’ tag with a projected 6.1 percent growth rate for 2019, even as the International Monetary Fund (IMF) cut its growth projection by a percent.
The IMF released its report titled: World Economic Outlook, October 2019: Global Manufacturing Downturn, Rising Trade Barriers on October 15, which pegs India’s 2020 GDP growth at seven percent.
Globally, India stood in contrast to IMF’s gloomy economic projection of a ‘synchronised slowdown’. This despite it trimming India’s prospects to 7.3 percent in April and seven percent in July.
Source: moneycontrol
