Indian Economy to Contract by 3.2% in FY 20-21

Published on June 10, 2020
Current Context: The World Bank has released its latest edition of Global Economic Prospects (GEP) for the months of June 2020.
Indian Economy to Contract by 3.2% in FY 20-21

  • The Global Economic Prospects describes analytical growth of various countries by considering various parameters.
  • As per the report, India’s growth to contract by 3.2% for the financial year 2020-21.
  • The growth marked is lower from 4.2% which was forecasted in FY 2019-20 at the end of March 2020.
  • The low growth rate is marked due to the situation of lockdown because of the pandemic COVID-19 and has resulted in shunt down of various economical activities in the country.
  • Static Part:
    • HQ of World Bank: Washington DC, United States
    • President of World Bank: David Malpass

Question: 

Q.1 As per the Global Economic Prospects by World Bank, India’s growth to contract by ____% for the financial year 2020-21?
a. 4.2%
b. 4%
c. 3.2%
d. 3.5%

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