The World Bank has estimated India’s real Gross Domestic Product (GDP) in the current fiscal year 2021-22 to grow by 8.3% in its latest economic update for South Asia. India’s economy, South Asia’s largest, is expected to grow by 8.3 per cent in the fiscal year 2021-22, aided by an increase in public investment and incentives to boost manufacturing,”. The World Bank said in its update on South Asia, titled ‘Shifting Gears: Digitization and Services-led Development.
The GDP growth projection for India in three fiscal years as per World Bank is as follows:
- 2021-22 (FY22): 8.3%
- 2022-23 (FY23): 7.5%
- 2023-24 (FY24): 6.5%