World Bank pegs 6.2% GDP growth for India by FY'15

Posted By: Religare
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World Bank pegs 6.2% GDP growth for India by FY'15
Expressing optimism over Indian economy, the World Bank has estimated that Indian the economy to expand 6.2 per cent in 2014-15, driven by recovery in global demand and an increase in domestic investment.

However, the international financial institution has cautioned that economy will first slump below even last year's decade-low level to 4.8 per cent in the current year, down from last year's 5 per cent.

"Growth in India will be led by recovery in global demand and an increase in domestic investment," according to bank's flagship publication, Global Economic Prospects.

The report further said, "Lack of progress in reducing supply-side constraints (particularly in the electricity, infrastructure and agricultural sectors) could also pose significant downside risk to the outlook."

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