IMF Pegs India's Economic Growth At 9.5%

International Monetary Fund (IMF) has pegged India's economic growth at 9.5%, a 3% cut from the previous projection of 12.5% in April. Reportedly, the drop in 3% of the growth is due to the impact of ''severe second Covid wave during March-May'' in India. However, India is still the world's fastest-growing large economy followed by China at 8.1%, the US and UK at 7% each.