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LATEST NEWS UPDATES | World Bank sees FY21 India growth at 1.5-2.8%, slowest since economic reforms 30 years ago

World Bank sees FY21 India growth at 1.5-2.8%, slowest since economic reforms 30 years ago

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published Published on Apr 12, 2020   modified Modified on Apr 13, 2020

-The Hindu/ PTI

The COVID-19 outbreak came at a time when India’s economy was already slowing due to persistent financial sector weaknesses, says World Bank report.

Washington: India is likely to record its worst growth performance since the 1991 liberalisation this fiscal year as the coronavirus outbreak severely disrupts the economy, the World Bank said on Sunday.

India’s economy is expected to grow 1.5% to 2.8% in the 2020-21 fiscal which started on April 1, the World Bank said in its South Asia Economic Focus report.

It estimated India will grow 4.8% to 5% in the 2019-20 fiscal that ended on March 31.

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The Hindu/ PTI, 12 April, 2020, https://www.thehindu.com/business/world-bank-sees-fy21-india-growth-at-15-28-slowest-since-economic-reforms-30-years-ago/article31322011.ece?homepage=true


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