Current Affairs - Banking - Discussion

The Washington based multilateral lender, World Bank in its latest edition of the Global Economic Prospect June 2020 analytical chapters reports states that India's growth is contract by 3.2%(so growth is -3.2%) for FY20-21 .It was lower from 4.2% which forecasted in FY2019-20 at the end of March 2020. The growth forecast is 9 percentage lower than the GEP forecasts from January 2020 when the growth was projected as 5.8%. But it also highlights that country's growth is expected to be 3.1% for the FY 2021-22.