Indian economy to grow by 6.9% in fiscal 2012-13: World Bank
New Delhi, June 13 (ANI): In the report titled 'Global Economic Prospect', the World Bank has said that the Indian economy would grow by 6.9 per cent in fiscal 2012-13, notwithstanding policy uncertainties, fiscal deficit and inflation.
The agency said that growth in India in 2011 was weak due to a poor monetary policy, stalled reforms and electricity shortages. These factors, along with fiscal and inflation concerns, cut into investment activity.
According to the report, India's economic growth rate slipped to a nine year low of 6.5 per cent in 2011-12.
The government has pegged growth at 7.6 per cent for the current fiscal. The economy has expanded by 8.4 per cent in the preceding two years. (ANI)
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