The World Bank has predicted higher GDP growth for India. The World Bank has projected India's GDP growth to be between 7.5 per cent and 12.5 per cent in FY2021-22.
The World Bank has reported this in the South Asia Economic Focus Spring update report.
The World Bank estimates that India's GDP will grow by 7.5 to 12.5 per cent in 2021-22. However, this growth rate will depend entirely on corona vaccination. The stock market is also expected to pick up in the coming months. The biggest impact of the lockdown was on tourism, trade and construction.
Seeing the growing number of corona patients in the country, the government decided to impose lockdown. The lockdown began between March and June 2020. This has had a direct impact on financial transactions, 'said the World Bank.
Estimates made by other agencies-
Fitch - 12.8 percent
Moody's - 12 percent
International Monetary Fund - 11.5 percent
Care ratings - 11-11.2 percent
S&P - 11 percent
RBI - 10.5 per cent