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India to grow 7.5 pc in 2010: World Bank

Written by: Staff

Wasington, Jan 22: A new report from the World Bank said that India is expected to grow at 7.5 per cent in 2010, despite slow global economic recovery.

India's GDP is projected to grow further at 8 pc in 2011 says Global Economic Prospects (GEP) 2010, released on Thursday, Jan 21.

It predicts that the fallout from the crisis will change the landscape for finance and growth over the next 10 years.

The report also pointed out that growth in the East Asia and Pacific region as well as in South Asia, particularly India, has been resilient, buoyed by a massive fiscal stimulus package in China and by India's skillful macroeconomic management.

Global GDP, which declined by 2.2 per cent in 2009, is expected to grow 2.7 per cent this year and 3.2 per cent in 2011.

Prospects for developing countries are for a relatively robust recovery, growing 5.2 percent this year and 5.8 percent in 2011.

GDP in rich countries, which declined by 3.3 per cent in 2009, is expected to increase much less quickly - by 1.8 and 2.3 per cent in 2010 and 2011.

OneIndia News

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