IMF: India GDP growth weaker than expected
India’s economic growth was much weaker than expected and risks to the outlook for the country are tilted to the downside, the International Monetary Fund (IMF) has said.
Latest data showed that economic growth slumped to an over six-year low in the April-June quarter, triggering worries about the
health of the economy.
“Recent growth in India was much weaker than expected, mainly due to corporate and environmental regulatory uncertainty and lingering weaknesses in some non-bank financial companies,” Gerry Rice, director of IMF’s communications department, said. “We will be monitoring that.”