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World Bank cuts forecast for India's growth to 7.6-7.7%

Cautions India against notable headwinds

Indivjal Dhasmana & PTI  |  New Delhi 

Pointing to sluggish corporate lending despite five policy rate cuts by the Reserve Bank of India since 2015, the World Bank on Tuesday cut growth projections for India by up to three percentage points to 7.6-7.7 per cent for 2016-17 and 2017-18.

Even then, India will continue to be the fastest growing major economy in the world. "India will continue to grow faster than its large emerging market peers, with growth rates of 7.6-7.7 per cent from Fiscal Year 2016/17 to Fiscal Year 2018/19," the Bank said in its Global Economic Prospects. In its January update, the multi-lateral ...

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First Published: Wed, June 08 2016. 01:40 IST
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