World Bank lowered growth forecast for developing world to 4.8 percent

The World BankWorld Bank released Global Economic Prospects (GEP) report on June 11, 2014 and revised down the economic growth forecast for developing world in 2014 to 4.8 percent from an earlier projection of 5.3 percent. It also highlighted that the growth in 2015 and 2016 at 5.4 and 5.5 percent, respectively.

Growth in India is projected at 5.5 percent in FY2014-15, accelerating to 6.3 percent in 2015-16 and 6.6 percent in 2016-17.

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