Question
What is India’s GDP growth rate for the FY20, as
estimated by the World Bank?Solution
The World Bank has recently released its ‘January 2020 Global Economic Prospects report’. The GDP growth of India for FY20 is estimated to be 5%. The GDP growth for the year 2021-22 is also lowered to 5.8% in the report. The credit instability of the weak Non-Banking Finance Companies (NBFCs) is cited to be the reason for the downgrade. Recently the Reserve Bank of India and the Central Statistical Office of the country also lowered the growth rate to 5% for this fiscal year.
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