India, April 10 -- International Monetary Fund (IMF) has lowered India s growth forecast for the just-concluded fiscal and the next two years citing softer recent growth and weaker global outlook but expects the country to retain its place as the fastest growing major economy. According to IMF estimates India s economy grew 7.1% in FY19 and is expected to accelerate to 7.3% growth this fiscal and to 7.5% in FY21. All the estimates are 0.2 percentage points less than its previous assessment in January.
The IMF numbers are higher than those of the Reserve Bank of India which had last week cut its growth forecast to 7.2% for this fiscal and 7.4% for FY21.According to India s official estimates Indian economy grew 7% in FY19 slowest in the las...