World Bank pegs India's growth at 5pc in FY20, projects recovery next year

Updated:6 years, 6 months ago

New Delhi, Jan 09(ANI): The World Bank has projected India's growth at 5% in the current financial year 2019-20 which is set to recover to 5.8% in the following fiscal year. "weakness in credit from non-bank financial companies is expected to linger"- Said World Bank in its latest semi-annual Global Economic Prospects report. Globally, the bank projected that economic growth is projected to recover 2.5% in 2020 from 2.4% in 2019 also the bank has noted that downside risk persists that might have an impact on the world's growth

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World Bank pegs India's growth at 5pc in FY20, projects recovery next year

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