Current Context: World Bank has released its report called ‘South Asia Economic Focus’. In that, it has forecasted the India’s growth for FY21 at 1.5% to 2.8%.
- The report forecast sharp economic fall in eight countries and they have mentioned the reason behind this sharp economic fall is the COVID-19 outbreak.
- Initially, World Bank had projected the growth of India to be 6.3% about 6 months ago, but it has now projected a fall to 1.5% to 2.8%.
- It also stated that growth is expected to rebound to 5% in the Fiscal year 2022 (FY 2021-22) when the impact of COVID-19 dissipates.
- As per the report, Maldives is expected to be the worst hit nation along with Sri Lanka Pakistan and Afghanistan. In the above listed countries, the full range of forecast is in the negative territory.
Static Part:
- HQ of World Bank: Washington DC, United States.
- President of World Bank: David Malpass
Question:
Q.1 What is India’s growth forecasted by World Bank in its ‘South Asia Economic Focus’ report for FY21?
a. 1.5% to 2.8%
b. 1.6% to 3%
c. 1.4% to 2.5%
d. 1.3% to 2.2%
a. 1.5% to 2.8%
b. 1.6% to 3%
c. 1.4% to 2.5%
d. 1.3% to 2.2%
