India to grow at 6.2% in 2014

As per the projections of Global Economic Prospects, the World Bank’s leading publication, the Indian economy is expected to expand 6.2% in FY2014-15. However, it also projects that it will slump 10 11-year low of 4.8% in the current year, below even last year’s 5%. It is further expected to increase to 6.6% in FY2015-16 and 7.1% in FY2016-17. As per the report, “Growth in India will be led by recovery in global demand and an increase in domestic investment, subject to downside risks.”