IMF cuts India's growth forecast by 0.1%
The International Monetary Fund (IMF) on Tuesday trimmed India's growth forecast by 0.1% to 7.4% for both 2016-17 and 2017-18, reflecting "sluggish investment recovery" in the economy. This figure is lower than the 7.6% growth registered in 2015-16. Further, the IMF cut global economic growth by 0.1% for 2016 to 3.1%, owing to uncertainty arising from 'Brexit'.