Published On: Oct 15, 2019

The International Monetary Fund cut India's GDP growth projection for the year 2019 to 6.1%, down 1.2% from its April projections of 7.3% growth. The IMF said, 'Growth will be supported by the lagged effects of monetary policy easing, a reduction in corporate income tax rates, recent measures to address corporate and environmental regulatory uncertainty, and government programmes to support rural consumption. India's economy decelerated further in the second quarter, held back by sector-specific weaknesses in the automobile sector and real estate as well as lingering uncertainty about the health of non-bank financial companies.'  

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