The International Monetary Fund (IMF) has estimated India’s growth rate for the fiscal year 2019 as 4.8%. IMF has lowered India’s growth rate stating weak income growth in rural areas and the increasing stress in the non-bank financial sector. IMF has also projected India’s growth rate as 5.8% in 2020 and 6.5% in 2021.
Important takeaways for all competitive exams:
- Managing Director of IMF: Kristalina Georgieva; Chief Economist: Gita Gopinath.
- Headquarters: Washington DC, USA.