World Bank slashes India’s FY14 growth to 6.1%
Tags: India's FY14 growth projections
, World Bank
Mumbai: The multi-lateral funding agency, World Bank scaled down the India’s growth projections for 2014 to 6.1% from 7% projected six months ago. “India is, however, regaining economic momentum and growth is expected to recover gradually to its high long-term potential,” said World Bank in its recent disclosure.
As per the latest India Development Update report of the World Bank, Indian economy would grow by 6.1% in 2013-14 on account of robust domestic demand, strong savings and investment rate. The funding body however has outlined the decline in agriculture sector as a major cause behind the fall in the projected growth index.
The International Monetary Fund had yesterday projected the country’s GDP growth rate to improve to 5.7% during the current fiscal.
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Posted by veena_pw
on Apr 30 2013. Filed under News
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