World Bank Lowers India’s GDP growth to 5% for FY20; 5.8% for FY21
- World Bank (WB) released its January 2020 Global Economic Prospects report on 08 January 2020.
- The WB report has cuts India’s GDP growth for financial year 2020-21 to 5% from its previous estimate of 6 percent.
- Also, for fiscal 2021-22, GDP projection has come down to 5.8 percent,
- The Global economic growth in 2020-21 is expected to rise to 2.5%.