India’s Economic Growth
Projections by the IMF
As per the latest projections made available by the International Monetary Fund (IMF), it has cut India?s growth forecast for 2019-20 to 7%. In its earlier forecast made available in April, it had reduced India’s growth projection to 7.3% on poor demand conditions.
The IMF?s World Economic Outlook had also cut the Indian Economic growth forecast for 2020-21 to 7.2% down from its previous estimate of 7.5%.
Projections by Fitch Group
The Fitch Group has also cut India’s growth forecast for the current fiscal year to just 6.6%. The reduction in the growth forecast can be attributed to the signs of weakness in the manufacturing and agriculture sectors observed over the past year.
Projections by the ADB
The Asian Development Bank (ADB) also has trimmed India?s economic growth forecast to 7% from 7.2% it had estimated earlier.
Projections by the World Bank
The World Bank has retained its projections for India?s economic growth at 7.5% for the current fiscal year. However, it has reduced the global economic expansion by 0.3 percentage points.
These figures were brought out in its annual Global Economic Prospects report. In the report, the World Bank has projected Indian growth to be 7.5% for the coming two years.