IMF’s growth projections wrong a lot: EAC-PM Member

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New Delhi, Oct 11 (IANS) Prime Minister Narendra Modi’s Economic Advisory Council member Rathin Roy on Wednesday dismissed International Monetary Fund’s (IMF) slashing of India’s growth projection for 2017, noting they are “estimations” which are “wrong 80 per cent of the time”.

Roy’s remarks came in response to a question on India losing the world’s fastest growing major economy rank in the IMF tally after it slashed India’s growth projection for 2017 by 0.5 percent to 6.7 percent on Tuesday.

Roy, however, acknowledged that economic growth had slowed down in the country and said the Council would examine the causes behind it, “which may be multiple”.

–IANS

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