Mumbai: In view of low economic growth, the spokesman of the International Monetary Fund Gerry said that the recent economic growth in India is much weaker than expected due to the weakness of corporate and environmental regulatory uncertainty in some non-bank financial companies.
Commenting on India’s growth rate, Gerry Rice said that GDP figures reflect slower growth for India. He was quoted as saying by the news agency ANI, ‘What is the IMF assessment? We have new numbers coming in, but recent economic growth in India is much weaker than expected, mainly due to corporate and environmental regulatory uncertainty. “
Addressing a press conference on Thursday, Gerry Rice said that the IMF would monitor the economic situation in India. “We will update that assessment in the upcoming world economic outlook,” he said.
In addition, IMF spokespersons attributed the sluggish weakness in some non-banking financial companies as another reason for the economic slowdown in India. “And Outlook’s risks are tilted downward, as we like to say,” he said.
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