The International Monetary Fund (IMF) has warned against growing risks in the Indian economy and said growth may decelerate further because of slowing investments, high inflation and possible populist fiscal expansion. “Since recovering rapidly from the global financial crisis, India’s economy has slowed substantially, and its growth rate is expected to decline further in the coming year for a range of domestic reasons,” IMF said in its annual health check of the Indian economy under the article IV consultation with the Indian government released on Wednesday.