World Bank raises GDP growth projection for India to 10.1 % for FY22

Current GK ( Master) Growth and development

The World Bank has revised upward the GDP growth projections for India by 4.7 percentage points to 10.1 percent for the financial year 2021-22, due to strong rebound in private consumption and investment growth.
Earlier the bank had pegged the GDP growth at 5.4 percent for FY22.
Apart from this, the World Bank has forecast the economy to contract by 8.5 percent in FY21 (2020-21).
The multilateral agency has also projected economic growth at 5.8 percent for India during FY23 (2022-23).