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World Bank retains projections for India's economic growth at 7.5%

For the current fiscal year, the growth is quite high, given the fact that India's economy grew just 6.8 per cent in 2018-19, a five-year low

Indivjal Dhasmana

Premium

World Bank

2 min read Last Updated : Jun 05 2019 | 1:30 AM IST

After the weak gross domestic product (GDP) data, India has something to cheer about. The World Bank has retained projections for India’s economic growth at 7.5 per cent for the current fiscal year even as it cut global economic expansion by 0.3 percentage points.

In its Global Economic Prospects report, the World Bank, however, pegged the growth at the same pace of 7.5 per cent for the next two fiscal years.

For the current fiscal year, the growth is quite high, given the fact that India’s economy grew just 6.8 per cent in 2018-19, a five-year low. Also, the growth plunged to 5.8 per cent in the fourth quarter of the fiscal year, also a five-year bottom. Also, the International Monetary Fund (IMF) had earlier cut economic growth of India to 7.3 per cent from earlier projection of 7.5 per cent. The Asian Development Bank (ADB) pegged the growth at 7.2 per cent.