World Bank Retains India's GDP Estimate At 8.3%

The World Bank noted yesterday that India's economic growth is expected to be 8.3% in the current financial year and 8.7% in 2022-23. The 8.3% estimate for the current fiscal is the same as what was projected by the World Bank in its last projection released in October 2021 even as it cut the global economic growth forecast. The global lender said that Indian economy's growth rate in the current as well as the next fiscal will be stronger compared to its immediate geographic neighbours. The economy should benefit from the resumption of contact-intensive services and and ongoing but narrowing monetary and fiscal policy support. Sectors particularly sensitive to the pandemic remain below pre pandemic levels though.

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