This is a downward revision of 0.3 per cent for both the years as compared to the IMF’s previous projections early this year, it said. “India’s economy is set to grow at 7.0 per cent in 2019, picking up to 7.2 per cent in 2020. Releasing the report in Chile’s capital Santiago, IMF’s Indian-origin Chief Economist Gita Gopinath said the IMF is revising downward its projection for global growth to 3.2 per cent in 2019 and 3.5 per cent in 2020. Global growth, Gopinath said, is sluggish and precarious, but it does not have to be this way because some of this is self-inflicted. With global growth subdued and downside risks dominating the outlook, the global economy remains at a delicate juncture, she said.

Source: Hindustan Times July 23, 2019 13:18 UTC