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News of relief for Modi government, World Bank said this on Indian economy

News of relief for Modi government, World Bank said this on Indian economy

India overcame the latest wave of Kovid

World Bank President David Malpass said that the Indian economy, which was hit by the Kovid-19 pandemic, is now in a state of recovery from the crisis and the World Bank welcomes it. Malpass also said that India is facing great challenges of integrating more people into the organized sector economy and increasing the income of the people. India has made some progress in this direction but it is not enough.

Malpas said, Indians have suffered a lot due to the wave of Kovid and it is unfortunate. They have tried to deal with it with huge production of vaccines and progress has been made in the vaccination effort. But we have to find out the impact it has had on the Indian economy and the unorganized sector in particular.

India overcame the latest wave of Kovid

Last week, the World Bank had projected the Indian economy to grow at 8.3 per cent this year. Malpas said in response to a question, the Indian economy is recovering and we welcome it. It has overcome the fresh wave of Kovid. It’s a good thing. But India, like other countries, is now affected by supply chain disruptions and rising inflation in the world.

India will grow more than 10% in FY22

At the same time, Finance Minister Nirmala Sitharaman said that there will be a growth of about double digits (more than 10 percent) this year in the country. And India will remain one of the fastest growing economies. Sitharaman further said that in 2022, economic growth will be in the range of 7.5-8.5 per cent, which will continue for the next decade as well.

During a conversation at Harvard Kennedy School, the Finance Minister said that if we look at India’s growth, this year the growth is expected to be in double digits. And it will be the highest in the world. And for next year, on this year’s basis, the growth will be somewhere in the range of eight per cent.

When asked about the state of the global economy, Finance Minister Sitharaman said that she does not think that you can have a picture for the whole world. Emerging economies are expected to recover rapidly and their growth will be good. They will also drag the global economy forward.

He said that and in that, at least the data that has been released last day and last week, they can say that this year India’s growth will be the highest in the world. And it will definitely be based on the low base of last year. But it will continue next year also. And in that too we will be among the fastest growing economies.

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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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