IMF Cuts India’s GDP Growth Forecast To 7.3% For FY20

The International Monetary Fund (IMF) cut its economic growth forecasts for India by 20 basis points (bps) each from its January predictions to 7.3% for FY20 and 7.5% for the next fiscal.

Citing persistent risks from the trade war, it lowered 2019 global growth forecast by 20 basis points to 3.3%, the weakest since 2009 when the subprime crisis had flared up.

Source: Economic Times

Static/Current Takeaways Important for LIC AAO Exam:

  • The IMF’s FY20 growth forecast for India is lower than the World Bank’s (7.5%) and the Asian Development Bank’s (7.2%).
  • MD of IMF- Christine Lagarde, Headquarters in- Washington DC, USA.

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