IMF cut India's GDP growth forecast yesterday. According to IMF India's economy grew 7.1% in FY19 and is expected to accelerate to 7.3% growth this fiscal and to 7.5% in FY21. All IMF estimates are 0.2 percentage points less than its previous assessment in January. Growth is supported by the continued recovery of investment and robust consumption amid a more expansionary stance of monetary policy and some expected impetus from fiscal policy, IMF says.
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