World Bank projects 5.7 % growth for India

Updated - May 21, 2016 10:02 am IST

Published - April 10, 2014 02:24 am IST - WASHINGTON:

The World Bank on Wednesday projected an economic growth rate of 5.7 per cent in fiscal year 2014 for India on the back of a more competitive exchange rate and many large investments going forward.

“The region’s largest economy, India, would see growth rise to 5.7 per cent in fiscal year 2014 from 4.8 per cent last fiscal year with activity receiving a boost from a more competitive exchange rate and many large investment projects going ahead,” the World Bank said in its latest edition of ‘South Asia Economic Focus.’ Another multilateral agency IMF had on Tuesday forecast that Indian economy would recover from 4.4 per cent growth in 2013 to 5.4 per cent in 2014.

The World Bank report said in India the problem was the banking sector’s growing exposure to company debt.

The fear was that this could ultimately affect the government’s finances through its ownership of state banks and the need to prop up distressed but systemically important banks, it added.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.