Washington: India’s GDP growth rate is likely to rise, according to a World Bank report. The World Bank forecasts that it will rise to 10.1 percent from 5.4 percent in January. Strong growth in private consumption and investment will help India. It is estimated that investment growth is due to the central government’s schemes, including Atmanirbhar Bharat, aimed at encouraging investment in the country.
The World Bank has an increase of 4.7 percentage points. The report, titled ‘South Asia Economic Focus, Spring 2021 South Asia Vaccinate’, is a wake-up call for the country’s economy and industry. According to the report, India’s economic growth is expected to be between 7.5 and 12.5 percent in FY2022, given the uncertainty created by the expansion of the corona. The report states that this will be based on the vaccination process and the possibility of new controls. The emancipation of the world community from the corona crisis will also be a factor in India’s growth.