India’s Economy Expected To Grow By 8.3% In 2021-22: World Bank

The World Bank has revised the country’s growth forecast to 8.3 per cent for the current financial year 2021-22, compared to the earlier estimate of 10.1 per cent. The World Bank stated in its latest report that the Indian economy – South Asia’s largest will register the growth aided an increase in public investment and incentives to boost manufacturing.

Due to the second wave of the COVID-19 pandemic in India, the economic recovery paused and the high frequency data suggested that the recovery also declined for a brief period, according to Hans Timmer, World Bank Chief Economist for the South Asia Region.

Earlier this year, the World Bank said that India’s real gross domestic product (GDP) growth for the current fiscal could range from 7.5 to 12.5 per cent in its South Asia Economic Focus report released ahead of the annual Spring meeting of the World Bank and the International Monetary Fund (IMF).

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