International Monetary Fund, IMF has lowered India's growth forecast by 0.7 per cent to 6.1 per cent for 2012. The IMF, in its update of the World Economic Outlook, has also cut India's growth projection for 2013 by a similarmargin, to 6.5 per cent. It has also reduced the global growth forecast for 2012 to 3.5 per cent from 3.6 per cent. For 2013, the growth forecast has been lowered to 3.9 per cent, from 4.1 per cent, indicating that there are harder times ahead for economies. Besides India, the IMF said that growth momentum has also slowed in various emerging market economies, notably Brazil and China. The Asian Development Bank had last week lowered the growth forecast for India to 6.5 per cent for the current fiscal, from the earlier 7 per cent.