The Indian economy experienced some abrupt slowdown in 2019 due to turbulence in non-banking financial institutions and major reform measures such as GST and demonetisation, but it is not in a recession, IMF Managing Director Kristalina Georgieva has said.

"The Indian economy indeed has experienced an abrupt slowdown in 2019. We had to revise our growth projections, downwards to four per cent for last year. We are expecting 5.8 per cent (growth rate) in 2020 and then an upward trajectory to 6.5 per cent in 2021," Georgieva told a group of foreign journalists on Friday.