World Bank on cut in India's FY14 growth forecast
World Bank senior country economist Denis Medvedev tells that India will grow at 4.7 per cent as against 6.1 per cent projected in the bank's April forecast- a cut of 1.4 percentage points. The World Bank sharply lowered its forecast for India's economic growth to 4.7 per cent from 6.1 per cent for FY14, citing a sharp slowdown in manufacturing and investment as well as negative business confidence.
