Deteriorating global growth outlook to impact India: IMF
Thomas Richardson, Senior Resident Representative in India, International Monetary Fund, speaks to NDTV about India's growth outlook, reforms process and global economy. The IMF on Tuesday downgraded India's 2012 GDP growth outlook to 4.9 per cent citing red tape, weakening business sentiment, a rising current account deficit and the rupee's depreciation. According to Richardson, inflation is still above comfort levels, which leaves limited room for the Reserve Bank to cut rates. However, he adds that growth slowdown is not too significant in India.
