Tuesday, January 25, 2022

World Bank says Indian economy to grow at 8.3 percent during current financial year and 8.7 percent in next fiscal

World Bank has said that Indian economy is expected to grow at 8.3 percent in the current financial year. It has upgraded India’s GDP growth for the next fiscal to 8.7 percent, reflecting higher investment from the private sector and in infrastructure, and dividends from ongoing reforms. In its latest Global Economic Prospects, World Bank said, the growth outlook will also be supported by ongoing structural reforms, a better-than-expected financial sector recovery, and measures to resolve financial sector challenges despite ongoing risks.

It said, global economic growth will dip to 4.1 percent in current financial year and 3.2 percent in the next fiscal.

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