IMF has lowered India’s growth rate to 4.8% for FY 2019

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.

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