New delhi (TIP)- The World Bank has retained India’s economic growth forecast for the current fiscal at 8.3% as the recovery is yet to become broad-based.
As per the first advanced estimates of the national income released by the National Statistical Office (NSO) last week, the economy is projected to grow at 9.2% in 2021-22, surpassing pre-Covid level in actual terms, mainly on account of improved performance, especially in farm, mining and manufacturing sectors.
“India’s economy is expected to expand by 8.3% in fiscal year 2021/22 (ending March 2022), unchanged from last June’s forecast as the recovery is yet to become broad-based. “The economy should benefit from the resumption of contact-intensive services, and ongoing but narrowing monetary and fiscal policy support,” the World Bank said in its latest Global Economic Prospects report released on Tuesday. Source: PTI