India to grow by 6 per cent next year: World Bank president
11 Mar 2013
Expressing disappointment over India's 5 per cent growth, the World Bank today said the Indian economy would soon get back to high growth path of 6 per cent next year and more thereafter.
World Bank president Jim Young Kim, who is on a three-day visit to India, said India would grow by 6 per cent next year and the bank hoped for even greater increase in future.
After meeting finance minister P Chidambaram in New Delhi, Kim said although the economic growth had been "somewhat disappointing" at 5 per cent, the situation would improve with the improvement of the global market scenario.
"Growth rate of 5 per cent here is one that has been somewhat disappointing but we are very encouraged by what has happened and what will happen and we think India will get back to higher levels of growth," he said.
According to Kim, the Indian economy was subject to global slowdown, adding as export market started doing better, the bank thought India would do better as well.
He said the GDP was estimated to have grown 5 per cent in the current fiscal and the growth rate was likely to improve to 6.1-6.7 per cent in 2013-14.
