IMF cuts India's 2019-20 growth rate to 4.8%

Calling it one of the "negative surprises", the International Monetary Fund (IMF) on Monday sharply cut India's growth estimate for the current fiscal to 4.8 per cent, darkening the economic picture from the rosy 7.5 per cent made this time last year. Drastically slashing India's growth estimate to 4.8 per cent for the current fiscal year, the International Monetary Fund on Monday blamed its economic slowdown for a "lion's share" of its cut of 0.1 per cent to global growth projections.