World Bank retains projections for India's economic growth at 7.5%

After the weak gross domestic product (GDP) data, India has something to cheer about. The World Bank has retained projections for India’s economic growth at 7.5 per cent for the current fiscal year even as it cut global economic expansion by 0.3 percentage points.

In its Global Economic Prospects report, the World Bank, however, pegged the growth at the same pace of 7.5 per cent for the next two fiscal years.

For the current fiscal year, the growth is quite high, given the fact that India’s economy grew just 6.8 per cent in 2018-19, a five-year low. Also, the growth plunged