World Bank forecasts 5% growth in FY20 for India in Global Economic Prospects report.
It Feels Like We Only Go Backwards: In its latest edition of the Global Economic Prospects report, the World Bank has projected a 5% growth rate for India in FY19-20. Growth in the following financial year, it said, is likely to rise to 5.8%.
Among large economies, India’s growth forecast stands at number two, behind China’s. The World Bank blamed "weak confidence, liquidity issues in the financial sector" and "weakness in credit from non-bank financial companies" for the ongoing slowdown. "In India, activity was constrained by insufficient credit availability, as well as by subdued private consumption." CNBC TV18
Globally, economic growth is forecast to be 2.5% in 2020 as investment and trade slowly recover from 2019’s shocks and uncertainties. But risks of a downturn persist.
The US economy is projected to slow to 1.8% while the Euro area will witness growth of 1%. China is forecasted to see the swiftest growth among large economies. BS
You can read the entire World Bank report here.
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