India set to grow at 5.5 percent: World Bank Washington, June - TopicsExpress

India set to grow at 5.5 percent: World Bank Washington, June 11: The World Bank projected Indias growth at 5.5 percent in fiscal 2014-15, accelerating to 6.3 percent in 2015-16 and 6.6 percent in 2016-17 as it urged developing countries to double down on domestic reforms. Subdued manufacturing activity and a sharp slowing of investment growth in India led to GDP growth in South Asia as a whole slowing to an estimated 4.7 percent in market price terms in calendar year 2013, the Bank said in a new report Wednesday. The growth in South Asia was 2.6 percentage points below average growth in 2003-12, the World Bank noted in its twice-yearly Global Economic Prospects report that also lowered projections for global economic outlook. newsbharati//Encyc/2014/6/11/123844.aspx

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