World Bank retains India's growth rate at 7.5 per cent
New Delhi : The World Bank on Wednesday retained India's growth rate at 7.5 per cent for the current financial year.
In its Global Economic Prospects report, the World Bank also said growth rate is expected to remain the same for the next two fiscals.
“In India, growth is projected at 7.5 per cent in FY2019/20 (April 1, 2019 to March 31, 2020), unchanged from the previous forecast, and to stay at this pace through the next two fiscal years,” the World Bank said in its report.
As mentioned in the report, the private consumption and investments will keep India's growth intact. Support from delays in planned fiscal consolidation at the central level should partially offset the effects of political uncertainty around elections, it added.
The contribution of exports to economic activity is expected to remain weak with moderate global trade growth, the report mentioned.