The International Monetary Fund (IMF) on Tuesday revised downward India's growth forecast for 2019-20 to 7% from 7.3% due to "a weaker-than-expected outlook for domestic demand". The projection was slashed by 30 bps to 7.2% for the next financial year too. Notably, the World Bank forecast India's GDP to grow by 7.5% during the current and next two financial years.