- This prediction is based on the current nationwide lockdown situation and due to the income shock experienced by households and businesses due to outbreak of Coronavirus.
- Earlier in June 2020, World Bank predicted that the Indian economy will shrink by 3.2% in FY21.
- As per the World Bank, India’s growth is projected to rebound to 5.4% in 2022.
- Also, regional growth for South Asia is expected to rebound to 4.5% in 2021.
- As per predictions by World Bank, fiscal deficit to rise above 12% in FY2021, assuming that combined deficit of the states is within 4.5% to 5% of GDP.
- Public debt is predicted to remain elevated around 94%.
- Static Part:
- HQ of World Bank: Washington DC, US
- President of World Bank: David Malpass
Question:
Q.1 As per World Bank, India’s GDP to contact by ___% in FY 2021?
a. 7.6%
b. 8.6%
c. 9.6%
d. 10.6%
a. 7.6%
b. 8.6%
c. 9.6%
d. 10.6%
