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The bank in its latest edition of the South Asia Economic Focus has said the country might recover to 6.9 per cent in 2021 and 7.2 per cent in 2022.
The report said India’s economic growth decelerated for the second consecutive year. In 2018-19, it stood at 6.8 per cent, down from 7.2 per cent in the 2017-18 fiscal year.
The reports said the industrial output growth increased to 6.9 per cent due to a pick-up in manufacturing and construction activities.
It noted that the economy experienced a significant and broad-based growth deceleration in the first quarter of 2019-20. There was a sharp fall in private consumption on the demand side and the weakening of growth in both industry and services on the supply side.
Prasanta Patnaik