India set to grow 6.4% in FY16: World Bank ; India Development Update: October 2014 PDF

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The 'India Development Report' released by the World Bank on Monday highlights the economic and financial developments of India over the last one year and jots down expectations for the future

Buoyed by expectations from the new government, the World Bank asserted that India's growth story is on track with its economy set to grow by 6.4 percent in FY16 and at 7 percent the following fiscal versus 5.6 percent in FY15. The multi-lateral funding agency also forecasts FY15 inflation (WPI) at 4.3 percent and current account deficit at 2 percent. The 'India Development Report' released by the World Bank on Monday highlights the economic and financial developments of India over the last one year and jots down expectations for the future. Progress in real sector activity, balance of payments, inflation, health of financial sector, fiscal developments, poverty and income distribution and reform actions are the major yardstick on which the bank has based its report. In the previous quarter the Indian economy registred a mere 5 percent GDP growth. Even in the fiscal year ended March 2014, the country's GDP growth slowed to 5 percent from average growth of 8 percent seen over the past decade. The multilateral agency had lowered GDP growth projection for the year 2013-14 to 4.7 percent (at factor cost) but expected it to accelerate to to 6.2 percent in FY2015.

LINK
http://documents.worldbank.org/curated/en/2014/10/20320065/india-development-update-india-development-update