The World Bank has decelerated India’s growth for 2016-17 fiscal to 7% from its previous estimate of 7.6%.The World Bank stated that immediate withdrawal of a large volume of currency in circulation and subsequent replacement with new notes in India contributed to slowing growth. Also, the country would regain momentum in the following years with 7.6 and 7.8% growth.
According to the report, India maintains the distinction of being the fastest growing emerging market economies of the world, bypassing China
So, let’s discuss some questions related to this post:
Q1. According to World Bank India’s growth rate drops how much from its previous estimate of 7.6%?