World Bank puts India's growth forecast at 7.5 percent for fiscal 2020
Washington, June 5 (IBNS): In its current forecast, World Bank has put India's growth rate at 7.5 percent in the present financial year.
"The outlook for the region is solid, with growth picking up to 7% in 2020 and 7.1% in 2021. Domestic demand growth is expected to remain robust with support from monetary and fiscal policy, in particular in India," World Bank said in a statement.
"Growth in India is projected to accelerate to 7.5% in FY 2019/20, which begins April 1," it said.
The forecast has been made by the World Bank at a time when the rate of India's gross domestic product (GDP) growth in the January-March quarter of 2018-19 moved down to touch 5.8 percent, as official data released on Friday.
It stood at 6.6 quarter in the December quarter.
Quarterly Estimates of Gross Domestic Product (GDP) for the fourth quarter (January-March) of 2018-19, both at Constant (2011-12) and Current Prices along with the corresponding quarterly estimates of expenditure components of GDP are also released.
"The four quarters of a financial year are denoted by Q1, Q2, Q3 and Q4.Estimates including growth rates of Q1, Q2 and Q3 of 2018-19 released earlier have been revised in accordance with the revision policy of National Accounts," read a government statement.
GDP at Constant (2011-12) Prices in Q4 of 2018-19 is estimated at Rs. 37.20 lakh crore, as against Rs. 35.15lakh crore in Q4 of 2017-18, showing a growth rate of 5.8 percent.
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