What this implies is that the IMF, in its World Economic Outlook expected next week, could revise downward its growth forecast for India. Last month, ADB and OECD revised downwards their for FY20 growth forecasts for India by 50 basis points and 1.3 percentage points to 6.5% and 5.9%, respectively. Standard & Poor’s has also pared down its india growth forecast for the year to 6.3% from 7.1% earlier. The IMF too had pared down its 2019-20 growth forecast for India in July by 30 basis points to 7%, expecting weaker domestic demand to limit an economic recovery. The Indian economy is faced with a debilitating demand slowdown and liquidity crunch, which has forced down economic growth rate to a six-year low of 5% in the June quarter.

Source: Indian Express October 10, 2019 12:33 UTC