The World Bank on Wednesday lowered its growth estimate for India to 5 per cent for the current fiscal from the earlier projection of 6 per cent.
This is in line with the RBI’s and the government’s latest projection of 5 per cent growth rate for 2019-20. The multilateral agency has forecast global economic growth at 2.5 per cent in 2020.
“India, where weakness in credit from non-bank financial companies are expected to linger, growth is projected to slow to 5 per cent in FY 2019-20, which ends March 31 and recover to 5.8 per cent the following fiscal year,” the World Bank said in its January report of ‘2020 Global Economic Prospects’.
This story is from the January 09, 2020 edition of The Hindu Business Line.
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This story is from the January 09, 2020 edition of The Hindu Business Line.
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