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Variational Quantum Imaginary Time Evolution (VQITE) is a leading technique for ground state preparation on quantum computers. A significant computational challenge of VQITE is the determination of the quantum geometric tensor. We show that requiring the imaginary-time evolution to be correct only when projected onto a chosen set of operators allows to achieve a twofold reduction in circuit depth by bypassing fidelity estimations, and reduces measurement complexity from quadratic to linear in the number of parameters. We demonstrate by a simulation of the transverse-field Ising model that our algorithm achieves a several orders of magnitude improvement in the number of measurements required for the same accuracy.