Question
World Bank has released its biannual ‘Global Economic
Prospects’ report. With respect to the information provided in the report, consider the following statements - I. The World Bank has kept its FY25 economic growth projection for India unchanged at 6.4 per cent, mainly on account of strong domestic demand, rising public infrastructure spending and strong private-sector credit growth. II. India is likely to maintain the fastest growth rate among the world’s largest economies, but its post-pandemic recovery was expected to slow, with estimated growth of 6.3 per cent in FY24, before recovering gradually to 6.5 per cent in FY26. III. It forecasted that the world economy will expand 3.4 per cent in 2024. Which of the following statements is/are NOT TRUE ?Solution
The World Bank has kept its FY25 economic growth projection for India unchanged at 6.4 per cent, mainly on account of strong domestic demand, rising public infrastructure spending and strong private-sector credit growth. In its biannual ‘Global Economic Prospects’ report, India is likely to maintain the fastest growth rate among the world’s largest economies, but its post-pandemic recovery was expected to slow, with estimated growth of 6.3 per cent in FY24, before recovering gradually to 6.5 per cent in FY26. It forecasted that the world economy will expand 2.4 per cent this year. That would be down from 2.6 per cent growth in 2023 which reflected the robust recovery from the pandemic recession of 2020.
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