IMF slashes growth projection for India from earlier 12.5% to 9.5% for FY 2022

The International Monetary Fund (IMF) has slashed its growth projection for India's GDP to 9.5 per cent for 2022 from the earlier projection of 12.5 per cent.

The International Monetary Fund (IMF) on Tuesday sharply cut India's GDP forecast to 9.5 per cent for the Financial Year (FY) 2022. This is considerably lower than the IMF's previous 12.5 per cent growth estimate for India. IMF Growth Projections: 2021USA: 7%Germany: 4.6%France: 3.6%Italy: 4.9%Japan: 2.8%UK: 7%Canada : 6.3%China: 8.1%India: 9.5%Russia: 4.4%Brazil: 5.3%Mexico: 6.3%KSA: 2.4%Nigeria: 2.5%South Africa: 4%https://t.co/yxs2PsXM89 #WEO pic.twitter.com/HUayOoFr5D It is important to note that this estimate in the latest edition of the IMF's World Economic Outlook (WEO) report is 300 basis points lower than IMF's earlier growth forecast for India from April of this year.