Indian economy to grow at 8.3 % during current financial year and 8.7 percent in next fiscal: WB

New Delhi: Indian economy is likely to record 8.3 percent growth this financial year says World Bank. It has upgraded India’s GDP growth for the next fiscal to 8.7 percent, reflecting higher investment from private sector and in infrastructure, and dividends from ongoing reforms. In its latest Global Economic Prospects, World Bank said, the growth outlook will also be supported by ongoing structural reforms, a better-than-expected financial sector recovery, and measures to resolve financial sector challenges despite ongoing risks.

It said, global economic growth will dip to 4.1 percent in current financial year and 3.2 percent in the next fiscal.