The World Bank has predicted the Indian economy to grow at 6.9 per cent in the current fiscal year. The World Bank raised its forecast for India’s growth to 6.9% for the current fiscal year from 6.5% earlier. It also trimmed its expectation for the next fiscal year to 6.6% from 7% earlier, reported Reuters.

The World Bank held that India is prepared to sustain the global economic slump with a lower impact.

“We have no concerns about India’s debt sustainability at this stage,” World Bank economist Dhruv Sharma was quoted as saying by the news agency Reuters.

Earlier, a report by Morgan Stanley suggested that India would surpass Japan and Germany to become the third-largest economy by 2027.

It further stated that the country is also on track to have the largest stock market by 2030, following its key investments in technology and energy.

According to the report, India is the fastest-growing economy in the world, and its gross domestic product (GDP) could double from the current $3.5 trillion to over $7.5 trillion by 2031.


India today