Stress in NBFCs, weak rural income growth causes of slowdown in India, according to Gita Gopinath of IMF
Updated : January 20, 2020 09:31 PM IST
IMF cited the sharp cut to India's forecast as a key reason for slashing its global and emerging market forecast.
In India, the first two quarters of fiscal year 2019-20 came in much weaker than expected, said Gita Gopinath.
There is simply no room for complacency, and the world needs stronger multilateral cooperation and national-level policies to support a sustained recovery that benefits all, added Gopinath.