{"id":111403,"date":"2021-06-09T16:59:46","date_gmt":"2021-06-09T11:29:46","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=111403"},"modified":"2021-06-09T16:59:46","modified_gmt":"2021-06-09T11:29:46","slug":"world-banks-global-economic-prospects-report-predicts-indias-growth-as-8-3","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/world-banks-global-economic-prospects-report-predicts-indias-growth-as-8-3\/","title":{"rendered":"World Bank&#8217;s &#8220;Global Economic Prospects Report&#8221; predicts India&#8217;s growth as 8.3%"},"content":{"rendered":"\n<h5><strong>What is the News?<\/strong><\/h5>\n<p>The World Bank has released the <a href=\"https:\/\/forumias.com\/blog\/world-banks-global-economic-prospects-report-predicts-contraction-of-indian-economy\/\" target=\"_blank\" rel=\"noopener\">Global Economic Prospects Report<\/a>.<\/p>\n<h5><strong>About the Global Economic Prospects Report:<\/strong><\/h5>\n<ul>\n<li><strong>Global Economic Prospects<\/strong> is a World Bank Group flagship report. It is <span style=\"text-decoration: underline;\">issued twice a year<\/span>, in January and June.<\/li>\n<li><strong>Aim<\/strong>: To examine global economic developments and prospects with a special focus on emerging markets and developing economies.<\/li>\n<\/ul>\n<h5><strong>Key Findings of Global Economic Prospects Report related to India:<\/strong><\/h5>\n<ul>\n<li><strong>The World Bank<\/strong> has reduced its growth forecast for India for the 2021-\u201922 financial year to 8.3% from 10.1% estimated in April.\n<ul>\n<li><strong>Reason<\/strong>: It has attributed it to the devastating second wave of the coronavirus pandemic that slowed down the economic revival in early 2021.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Moreover, <\/strong>the report has said that the economic activity in India would likely follow a similar but less pronounced \u2018<strong>collapse and recovery\u2019 trend<\/strong> seen during the first wave.<\/li>\n<\/ul>\n<h5><strong>Key Global Findings of Global Economic Prospects Report:<\/strong><\/h5>\n<ul>\n<li><strong>The global economy<\/strong> is expected to expand 5.6% in 2021. This is the fastest post-recession pace in 80 years, largely due to strong rebounds from a few major economies.<\/li>\n<li><strong>However, many emerging markets <\/strong>and developing economies continue to struggle due to the following reasons,\n<ul>\n<li>A resurgence of COVID-19 cases,<\/li>\n<li>Lagging vaccination progress<\/li>\n<li>The withdrawal of policy support in some instances.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Among major economies, <\/strong>the growth of the US is projected to reach 6.8% this year. This is due to large-scale fiscal support and the easing of pandemic restrictions.<\/li>\n<li><strong>Among emerging markets and developing economies, <\/strong>China is anticipated to rebound to 8.5% this year, reflecting an increase in demand.<\/li>\n<\/ul>\n<p><strong>Source: <\/strong><a href=\"https:\/\/epaper.thehindu.com\/Home\/ShareArticle?OrgId=GJC8LDCI9.1&amp;imageview=0\"><strong>The Hindu<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the News? The World Bank has released the Global Economic Prospects Report. About the Global Economic Prospects Report: Global Economic Prospects is a World Bank Group flagship report. It is issued twice a year, in January and June. Aim: To examine global economic developments and prospects with a special focus on emerging markets&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/world-banks-global-economic-prospects-report-predicts-indias-growth-as-8-3\/\">Continue reading <span class=\"screen-reader-text\">World Bank&#8217;s &#8220;Global Economic Prospects Report&#8221; predicts India&#8217;s growth as 8.3%<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,1305,9],"tags":[1284,1420],"class_list":["post-111403","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-index-reports-bodies","category-public","tag-eco_2","tag-ir_3","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700799764,"cached_date":1700917632},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/111403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=111403"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/111403\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=111403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=111403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=111403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}