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World Bank Reduces India Growth Rate To 7% For 2016-17

World Bank Reduces India Growth Rate To 7% For 2016-17

Wednesday, January 11, 2017, 7:05 PM

After demonetization, the World Bank on Wednesday reduced India's growth for FY 2016-17 to a "still robust" 7% from its previous estimate of 7.6%, but declared that the country would regain momentum in FY 2018-19 and FY 2019-20 with 7.6% and 7.8 % growth. Notably, India maintains the distinction of being the fastest growing emerging market economies of the world, bypassing China.
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