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India’s economy to grow at 8.3 pc in 2021 & 7.5 pc in 2022: World Bank


Even as India’s recovery is being hampered by the second wave of Covid-19, its economy is estimated to grow at 8.3 per cent in 2021 and 7.5 per cent in 2022, as per the World Bank’s latest Global Economic Prospects. It noted that in India an enormous second Covid wave is undermining the sharper-than-expected rebound in activity seen during the second half of 2020-21, especially in services. 


Overall, it said that the global economy is expected to expand 5.6% in 2021, the fastest post-recession pace in 80 years, largely on strong rebounds from a few major economies. However, many emerging market and developing economies continue to struggle with the pandemic and its aftermath. Despite the recovery, global output will be about 2% below pre-pandemic projections by the end of this year, said a report.

 

Source: Exim News Service: Washington, June 9

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