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Topic: World Economic Outlook
IMF chief economist Gita Gopinath cites decline in rural demand growth and an overall credit sluggishness for lowering of India forecasts.
Policy makers urgently need to take action to tackle financial vulnerabilities that could exacerbate the next economic downturn, IMF says.
Also urges a clean-up of banks' balance sheets as it projects growth at 7.8% for FY 19-20.