IMF cuts India growth forecast from 7.6% to 6.6% on note ban
The International Monetary Fund on Monday cut India’s growth forecast for the current fiscal to 6.6% from its previous estimate of 7.6%. The cut is a consequence of the currency crunch following the demonetisation decision, said the IMF. The cut in India’s growth rates comes days after the World Bank decelerated India’s GDP growth for 2016-17 to 7% from 7.6%.