World Bank downgrades India growth rate to 7.6%

WASHINGTON: The World Bank on Tuesday marginally downgraded India’s growth rate by 0.2 percentage points to 7.6% in 2016, even as it said the country will continue

WASHINGTON: The World Bank on Tuesday marginally downgraded India’s growth rate by 0.2 percentage points to 7.6% in 2016, even as it said the country will continue to grow faster than its large emerging market peers. In its latest ‘Global Economic Prospects’ report, the bank also downgraded its 2016 global growth forecast to 2.4% from the 2.9% projected in January. It also modified its projections for India’s growth rate in 2017 and 2018 by a marginal downgrade of 0.2 percentage point to 7.7% in both the years.

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