India’s economic growth much weaker than expected: IMF

Aftergovernment data showed that India's Economy expanded at its slowest pace inover six year, International Monetary Fund (IMF) on Thursday has said thatIndia's economic growth is "much weaker" than expected.

TheIMF stated that the reasons behind weaker economic growth of India are – corporateand environmental regulatory uncertainty and "lingering weakness" in somenon-bank financial companies.

TheIMF has cut its projection for India's economic growth to 7 percent for thefiscal year 2019-20. It may be mentioned here that the economic growth slowedto a seven-year low to 5 percent in April to June quarter from 8 percent lastyear.