The World Bank retained its forecast of India’s growth rate at 7.5% for the current financial Year 2019/20. In its Global Economic Prospects report, the World Bank also mentioned that growth rate is expected to remain the same for the next two fiscals.
According to the report, private consumption and investment will benefit from strengthening credit growth amid more accommodative monetary policy, with inflation having fallen below the Reserve Bank of India’s target.
Source- News On AIR
Static/Current Takeaways Important For LIC AAO Mains 2019:
- World Bank Headquarters in: Washington DC, USA, Established in: 1944, President: David Malpass.