India, Jan. 21 -- International Monetary Fund says downgrade of global economy due to India's dipping growth rates

There is no ebb in India's economic woes. In its latest assessment, International Monetary Fund (IMF) has cut India's economic growth forecast to 4.8 per cent.

In its World Economic Outlook, IMF did the same for global economic growth - to 2.9 per cent for 2019, a downward revision of 0.1 percentage point from its earlier forecast.

"The slight downward revision of 0.1 per cent for 2019 is owed largely to downward revisions for India," the IMF said on January 20, 2020.

On the other hand, the IMF estimate attributed dipping rural income in India as the main reason for the country's economic growth floundering.

What it mean...