India'S Economic Growth Has Been The Slowest In 6 Years, And IMF Has Promoted The Decline.

The International Monetary Fund (IMF) said that at present, the India government must act swiftly to reverse the trend of economic growth.

India has always been one of the world's leading engines of economic growth and one of the fastest growing economies.

IMF pointed out in the annual review report, but because of the decline in consumption and investment, tax reduction, and other factors, India's economy has been on the brakes.

Salgado, Ranil of IMF in the Asia Pacific region, told the media that India is now in a period of significant economic growth in the wake of the implementation of the plan to save millions of poor people in the implementation of the plan in IMF.

"In order to solve the current decline and bring the economy back to a high level, India needs urgent policy actions. "

But IMF warned that because of the heavy burden of debt and interest, the India government has little room to expand spending to stimulate economic growth.

Salgado said that the India central bank has "room to further reduce the policy interest rate, especially if the economy slows down."

Although the Central Bank of India has lowered the main lending rate 5 times this year, hitting a record low of 9 years, at the beginning of this month's meeting, the central bank decided to maintain interest rates unchanged and failed to cater to market expectations.

The Central Bank of India has also revised its annual economic growth forecast from 6.1% of the previous forecast to 5%, mainly due to tight consumer demand and manufacturing activity.

According to official data, India's economic growth dropped to 4.5% from July to September this year, compared with 7% in the same period last year, the slowest economic performance in more than 6 years.

Salgado said: "the India government must revitalize the reform agenda", including restructuring the fiscal system and "strengthening the capacity to stimulate economic development". "