World Bank lowers India's GDP growth rate estimate to remain at 5% in current financial year

New delhi date. 9 January 2020, Thursday

The World Bank has expressed its opinion that India's GDP growth rate will be reduced by about 5% in the current financial year.

The GDP growth rate is likely to rise 5.8 percent next year, the World Bank said.

It should be noted here that in October last year, the World Bank expressed its hope of a percentage increase in GDP.

The World Bank said that Bangladesh's GDP growth rate is likely to be higher than India's. It is not surprising that the growth rate of Bangladesh is doubled to 100%. However, our neighboring Pakistan's growth rate was expected to be about three percent worse.

According to a report titled Global Economic Prospects, the distribution of loans by non-banking financial institutions in India was weaker than ever. This can have an impact on GDP growth rate.