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The World Bank has projected India's economy to contract by 3.2% in the current fiscal due to the coronavirus lockdown which has disrupted the economic activity. Balance sheet stress in the financial sector and "spillovers from contracting global growth" will affect economic activity, it said. The World Bank added that the economy will recover to grow at 3.1% in FY22.
The World Bank has projected India's economy to contract by 3.2% in the current fiscal due to the coronavirus lockdown which has disrupted the economic activity. Balance sheet stress in the financial sector and "spillovers from contracting global growth" will affect economic activity, it said. The World Bank added that the economy will recover to grow at 3.1% in FY22.
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