IMF retains India's FY20 GDP growth rate forecast at 6.1%

IMF's projection is much higher than those by most agencies. RBI's latest projection pegged growth at 5 per cent, Standard & Poor's at 5.1 per cent, Moody's at 4.9 per cent and Fitch' at 4.6 per cent.

The International Monetary Fund (IMF) has retained India’s economic growth forecast at 6.1 per cent for FY20, but said risks to the outlook are tilted to downward side.

IMF’s projection, given in its much-awaited country report on India under Article IV of the Fund, is much higher than those by most agencies. For example, the Reserve Bank of India’s latest projection pegged the growth at 5 per cent, Standard & Poor’s at 5.1 per cent, Moody’s at 4.9 per cent and Fitch’ at 4.6 per cent for the current financial year.

IMF factored in gross domestic product (GDP) growth rate