How IMF retained India growth forecast at 9.5% while trimming global outlook

The International Monetary Fund (IMF) has retained India's GDP growth forecasts at 9.5% in 2021 and 8.5% for 2022, but trimmed the global growth outlook, saying the recovery has lost momentum and become increasingly divided. Earlier in July this year, the IMF has cut India's growth forecast by 300 basis points to 9.5% for the current financial year from 12.5% estimated earlier in April. The Washington-based agency said that India's monetary policy projections are consistent with achieving the Reserve Bank of India’s inflation target over the medium term. Watch this report for more.