IMF trims India's growth forecast to 7.2% due to note ban
The International Monetary Fund on Tuesday trimmed India's annual growth forecast by 0.4 percentage points to 7.2% for 2017, citing the impact of demonetisation. This is primarily because of the temporary negative consumption shock induced by cash shortages and payment disruptions, IMF said. Further, world economy is pegged to grow at 3.5% in 2017, IMF stated.