World Bank has released India’s GDP growth forecast for the year 2021. The World Bank has said that the Indian economy is expected to grow at 8.3 percent in the year 2021. Earlier, the World Bank had said that the Indian economy will grow at the rate of 10.1 percent in the financial year 2021-22.
The Reserve Bank of India has estimated India’s GDP to grow by 9.5 percent in the financial year 2021-22. He said that the recovery in the Indian economy was very strong before the big wave of Kovid-19. In a report released by the World Bank on June 8, it was told that the second wave of COVID-19 in India has affected other things including services.
According to the World Bank report, India’s economy recorded a growth rate of four percent in 2019, however, in the year 2023, India’s economy may grow at a rate of 6.5 percent.
Recently, the government released the GDP figures for the financial year 2020-21. The country’s growth rate has been at 1.6 percent in the fourth quarter of the financial year 2020-21, but in the entire financial year 2020-21, India’s economy registered a contraction of 7.3 percent. In the data released by the Ministry of Statistics and Program Implementation, it has been said that in the financial year 2019-20, the growth of the country was at four percent.