World Bank chief Jim Yong Kim expects Indian economy to grow at 6% next fiscal.
President of World Bank Jim Yong Kim has said the Indian economy will soon get back to high growth path of 6% next year and more thereafter. “India is going to grow by 6% next year and we hope for even more increase in future,” World Bank President Jim Yong Kim said.
Kim, who is on a three-day visit to India, was talking to reporters after meeting finance minister P Chidambaram in New Delhi. The Economic Survey has projected a growth in 2013-14 in the range of 6.1% to 6.5%. He said although the economic growth has been “somewhat disappointing” at 5%, but the situation would improve as the global market scenario improves.
“Growth rate of 5% here is one that has been somewhat disappointing but we are very encouraged by what has happened and what will happen and we think India will get back to higher levels of growth,” Kim said.
The Indian economy is subject to global slowdown, he said adding “as export market starts doing better, we think India will do better as well.” Country’s statistical organization has projected growth in this fiscal at 5%, though the government expects it to be higher.