World Bank Raises India's Growth Forecast To 10.1% From 5.4% For 2021-22 | Read

The World Bank has raised the country's growth forecast to 10.1 per cent for the next financial year 2021-22 starting Friday, April 1, compared to the earlier estimate of 5.4 per cent. The World Bank stated in its recent report 'South Asia Economic Focus' that the Indian economy had been slowing prior to the COVID-19 pandemic. After reaching 8.3 per cent in the financial year 2016-17, the growth decelerated to four per cent in the financial year 2019-20 and the economic slowdown was caused by a decline in private consumption growth and subsequent shocks to the financial sector.