IMF cuts India's growth forecast from 7.4% to 7.3% for FY19
The International Monetary Fund (IMF) on Tuesday lowered India's growth projection to 7.3% from earlier 7.4% in this fiscal owing to high crude oil prices and a tight monetary policy regime. The international body further lowered the growth projection from 7.8% to 7.5% for the next fiscal. However, India still remains the world's fastest growing country among major economies.