Why is it in the news ?
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The International Monetary Fund cut its estimate for India’s growth this year to 6.1% from 7% projected in July.
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The IMF published it in its latest World Economic Outlook report.
More in the news
Findings of the IMF Report:
- The downward revision reflected a weaker-than-expected outlook for domestic demand.
- Globally, rising trade barriers, heightened uncertainty around trade and geopolitics.
- The structural factors, such as an ageing population in advanced economies, were the causes of a “synchronised slowdown.
Source
The Hindu.