“It (India) has outperformed what everybody has thought but it won’t mean there won’t be more challenges,” Banga said…reports Asian Lite News
The newly appointed World Bank chief Ajay Banga on Monday said that he has never been more optimistic about India than now, as the country remains the fastest growing major economy globally.
“I’m more optimistic about India today as a whole than I have been for a long time. The fact is that the world economy is in a difficult place,” Banga said at the sidelines of the G20 event at Gandhinagar on Monday.
“It (India) has outperformed what everybody has thought but it won’t mean there won’t be more challenges,” Banga said.
“The IMF forecast, the World Bank forecast are that the world will get a little challenging over the next year or so… I said in a speech this morning- forecast is not equal to destiny. We can change destiny, that’s what we should think of right now,” he added.
The World Bank last month revised India’s GDP growth to 6.3% in FY24, down from 6.6% estimated earlier. It expects global growth to be around 2.1% during the same period. The Washington-headquarters institution attributed the slowdown in India to constrained private consumption due to high inflation. However, the World Bank expects the South Asian country to continue to be among the fastest-growing economies
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