The IMF downgrade of India’s growth rate came much recently. Ahead of the IMF, other leading organizations like the RBI, the World Bank and also Moody’s and S&P had already downgraded India’s growth rate. This cut to 6.1% is for 2019 and its estimate for 2020 is at 7%. The following reasons have been given by IMF for downgrading India’s growth to 6.1%.

IMF feels that the impact of the US-China trade war could hit India’s total trade substantially putting pressure on the growth capacity.

Domestic investment cycle has also come to a virtual standstill due to stress in a lot of companies and that could impact future capital formation.

Urban consumption, while being better than rural consumption, is still under stress due to uncertainty over future income outlook.

Rural consumption has taken the big hit. While rural consumption growth was twice that of urban households, Agri distress has reduced it to just half of the urban growth.

Credit is quite tight and most banks are tightening on consumer loans on delinquency fears. NBFC credit is already under tremendous stress.
Apart from the above factors, the IMF also feels that India's growth would also moderate due to the rub-off impact of a global slowdown.