World Bank Reduces India GDP Growth Forecast to 7% for 2017-18

In the June quarter of 2017-18, the Indian economy decelerated to 5.7%, lowest since the economy grew at 5.3% in the March quarter of 2013-14. In its South Asia Economic Focus (Fall 2017), the World Bank reduced India’s GDP growth forecast to 7% for 2017-18 from 7.2% estimated earlier.

Both the Asian Development Bank as well as the Organisation for Economic Cooperation and Development (OECD) have also cut their growth projections for India to 7% and 6.7%, respectively, for fiscal 2017-18.

Important Takeaways from Above News-

  • Jim Yong Kim is the President of World Bank.
  • The World Bank headquarters in Washington, D.C., United States.
Source- Livemint

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