IMF says India responsible for cut to global growth projection

New Delhi, Jan. 20 -- Drastically slashing India's growth estimate to 4.8 per cent for the current fiscal year, the International Monetary Fund on Monday blamed its economic slowdown for a "lion's share" of its cut of 0.1 per cent to global growth projections

The International Monetary Fund's World Economic Outlook (WEO) Update cut the global economic growth projections made in October by 0.1 per cent for last year to 2.9 per cent and to 3.3 per cent for the current year.

"A more subdued growth forecast for India accounts for the lion's share of the downward revisions," the IMF said.

The slashing of India's growth projections follow downward trend from 7.5 per cent at this time last year to 6.1 per cent last October.

The WEO Update rele...