World Bank says slowdown in India is severe, cuts GDP forecast to 6%

Growth is expected to gradually recover to 6.9 per cent in 2020-21 and to 7.2 per cent in the following year, it said

The World Bank cut India’s economic growth forecast by the most among South Asian nations on Sunday, below the outlook pegged by the nation’s central bank for this year, mainly because of a deceleration in domestic demand.

India’s gross domestic product growth is projected at 6 per cent in the fiscal year started on April 1, compared with 7.5 per cent forecast in April and 6.8 per cent recorded a year earlier, the bank said in its latest South Asia Economic Focus report. Growth is expected to gradually recover to 6.9 per cent in 2020-21 and to 7.2 per cent