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  • DAILY CURRENT AFFAIRS:World Bank Maintains India's Growth Projection At 8.3% For 2021-22

World Bank Maintains India's Growth Projection At 8.3% For 2021-22

Tags: Economics/Business

According to the World Bank’s “Global Economic Prospect” report  the Indian economy is expected to grow by 8.3% in the financial year 2021-22 and by 8.7% in the financial year 2022-23.

World Bank Maintains India's Growth Projection At 8.3% For 2021-22

The report is released by the World Bank every Quarter.

Highlights of the report 

  • India is expected to be a bright spot in the world economy as the global economy faces grim outlook as the aftershock of the pandemic continues to affect the global economy especially the poor ones .
  • It expects the global economy to grow by 4.1% in 2022 as compared to 5.5% in 2021.
  • Driving the global slowdown are China, where the rate of growth is expected to drop to 5.1% from 8% last year, and the US, which is forecast to expand by 3.7% this year compared with 5.6% in 2021. 

World Bank President David Malpas.

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