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    India’s growth slowdown is a drag on the world, says IMF chief economist Gita Gopinath - Hindustan Times thumbnail

    Home / Business News / India’s growth slowdown is a drag on the world, says IMF chief economist Gita Gopinath

    The International Monetary Fund (IMF) on Monday slashed India’s growth forecast by 1.3 percentage points to 4.8% for 2019-20, prompting the agency to also trim its global growth estimates as a result. IMF chief economist Gita Gopinath said growth in India slowed sharply “owing to stress in the non-bank financial sector and weak rural income growth”. “We project global growth to increase modestly from 2.9% in 2019 to 3.3% in 2020 and 3.4% in 2021. The slight downward revision of 0.1 percentage point for 2019 and 2020, and 0.2 percentage point for 2021, is owed largely to downward revisions for India,” she said in the IMF’s World Economic Outlook (WEO) update. While the Indian government’s statistics department and the Reserve Bank of India (IMF) have estimated growt
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