NEW DELHI: India’s growth rate is projected to fall to 6 per cent in the financial year of 2019-20 from 6.9 per cent a year ago, the World Bank said on Sunday.
However, the country was expected to gradually recover to 6.9 per cent in 2021 and 7.2 per cent in 2022 as it assumed that the monetary stance would remain accommodative, given benign price dynamics, the bank said in its latest edition of the South Asia Economic Focus.
The report, which has been released ahead of the annual meeting of the World Bank with the International Monetary Fund, noted India’s economic growth decelerated for the second consecutive year.
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In 2018-19, it stood at 6.8 per cent, down from 7.2 per cent in the 2017-18 financial year. – Agencies
