Slowdown in India dragging down global economy, says IMF Chief Economist Gita Gopinath

'The economic slowdown in India was the primary reason behind global growth estimates being downgraded in the latest World Economic Outlook, said International Monetary Fund's Chief Economist Gita Gopinath. In its World Economic Outlook (WEO) released on Monday, International Monetary Fund (IMF) slashed global growth projections for 2019 to 2.9 per cent and for 2020 to 3.3 per cent. India's growth forecast was also downgraded for 2019 to 4.8 per cent from 6.1 per cent on the back of sharp decline in consumer demand, stress in the NBFC sector and sluggish credit growth...'