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Showing posts with the label world economy

Global speed bumps on India's growth highway

Poor global demand might make it tough for India to crank its growth engine Is the world economy heading towards a sharp deceleration in growth, pulling down India's own story in its wake? The chorus is growing stronger as economic recovery sputters in the world's major economies. Early this month, the International Monetary Fund (IMF) cut its global growth forecast for a second time this year, citing weak commodity prices and a slowdown in China. In October, IMF forecast the world economy would grow 3.1 per cent this year, down from its July estimate of 3.3 per cent growth. For next year, it cut the growth forecast to 3.6 per cent, from 3.8 per cent earlier. As recently as April it expected the world economy to grow 3.5 per cent this year. A downgrade by IMF follows a similar move by its Bretton Woods cousin, the World Bank. In its forecast in June, the institution expected the world economy to grow 2.8 per cent this year, down from three per cent estimated in