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World Bank retains growth forecast for Indian economy at 7.5%

Prime News, National and International, Washington DC (USA), June 5:- The World Bank retained its forecast of India’s growth rate at 7.5 per cent for the current financial year. In its Global Economic Prospects report, the World Bank also said growth rate is expected to remain the same for the next two fiscals.

The World Bank said in its report that in India, growth is projected at 7.5 per cent in Fiscal Year 2019/20, unchanged from the previous forecast, and to stay at this pace through the next two fiscal years.

According to the report, private consumption and investment will benefit from strengthening credit growth amid more accommodative monetary policy, with inflation having fallen below the Reserve Bank of India’s target.

The bank said investment rate in India was expected to grow at a slower pace in 2019 than in 2018. It, however, said investment growth was expected to remain robust as benefits of recent policy reforms further materialised.(Inputs: Agencies, NGB)

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