The International Monetary Fund (IMF) said that some optimism has returned to the global economy and predicted slightly faster growth. It revised world economic growth for 2012 to 3.5%, up from its previous forecast of 3.3%. However, the IMF noted another eurozone crisis was possible and that most major economies still face major brakes on growth.India's economic growth forecast has also been lowered to 6.9 per cent in 2012, from 7 per cent projected earlier, on weak global and domestic demand. As per the estimates of India's Central Statistical Organisation, CSO, the growth rate during the financial year 2011-12 slipped to a 3-year low of 6.9 per cent. While the government has projected a growth rate of 7.6 per cent for the current financial year which began on April 1, 2012, the Reserve Bank of India expects it to be 7.3 per cent.