News Update

Previous Forecast Of India’s GDP Changed By World Bank Announces A Lesser One Of 8.3%

• ByStartupStory     |    June 9, 2021

On Tuesday, Washington based global leader, World Bank projects new GDP growth of 8.3% for India in the present financial year of 2021 -2022. It has also predicted a 7.5 % growth of the economy in the next final fiscal year of 2022-2023.

The reason why the World Bank projects new GDP growth of 7.5% is because of the second wave of COVID which had hit India badly and the country is still in the process of recovery. Due to COVID, which raged havoc, India had to undermine it’s expected business prospect in the later half of 2020 -2021, especially in services thus hampering the economic recovery, said World Bank in their latest issue of Global Economic Prospects.

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