The World Bank has become the latest institution to pare its estimate of India's GDP growth this year below 5%. The bank forecast 6.1% growth in April but now predicts 4.7%. "India's growth potential remains high, but its macroeconomic vulnerabilities -- high headline inflation, an elevated current-account deficit and rising pressure on fiscal balances from the depreciation of the rupee -- could impact the speed of economic recovery," said Denis Medvedev, senior country economist for India at the World Bank.

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The Hindu (India)

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