IMF's Asia-Pacific Regional Economic Outlook released on Friday said the lowered growth outlook in 2012 owes much to a slowdown in investment. However, the multilateral agency has retained India's growth estimate at 7.3 per cent for 2013.
As per the IMF, the national economy grew by 7.1 per cent last year.
IMF called for renewed efforts to revive the structural reforms agenda. It also called for steps to improve investment climate, remove infrastructure bottlenecks and expand education opportunities to boost reforms.
On price rise, the multilateral agency said that fiscal consolidation was needed to contain inflationary pressures and for priority development.
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