The International Monetary Fund lowers India's growth forecast to 6.9% for this year,IMF's Asia-Pacific Regional Economic Outlook released today said . The lowered growth outlook in 2012 owesmuch to a slowdown of investment which partly reflects structural factorsIMF called for renewed efforts to revive the flagging structural reform agenda.It also pointed out that domestic factors too have played a role in India's growth slowdown over the second half of 2011.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 also called for steps to improve investment climate, remove infrastructure bottlenecks and expand education opportunities, thereby boosting reforms.On price rise, the multilateral agency stressed that fiscal consolidation is the key to containing inflationarypressures and creating space for priority development needs.The IMF in its Asia-Pacific Regional Economic Outlook report added that Asian economies, led by India and China, are expected to see better growth this year but any escalation of European debt turmoil will impact them,It said emerging Asia would remain the fastest growing region in the world. Emphasising that economic rebalancing remains a policy priority for much of Asia, the IMF said the best way for the region to protect itself against external shocks is bystrengthening domestic sources of growth.