IMF cuts India's growth forecast for 2012-13 to 5-6%

The International Monetary Fund, in its latest World economic Outlook, has lowered India's economic growth forecast by 1% to 5-6% for 2012-13. Released in Tokyo ahead of the IMF-World Bank 2012 Annual Meetings, the report said that the growth has weakened in the first half of current year due to deteriorating business sentiment and stalled investment due to governance issues.