Wednesday, October 10, 2012

IMF cuts India's growth forecast

Due to low business confidence and sluggish structural reforms, the International Monetary Fund (IMF) has slashed the growth forecast of India to 4.9 per cent for 2012. Earlier, the IMF had projected a growth rate of 6.1 per cent for this fiscal. Indian economy expanded by 5.5 per cent in the first quarter of financial year 2012.

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