World Bank warns of "high uncertainty" over India's growth rate momentum, says downsize risks are "ample"
By Our Representative The World Bank’s latest report , “India Development Update”, has said that India may have taken advantage of the “sharp decline in global oil and commodity prices to eliminate petrol and diesel subsidies and increase excise taxes”, hence the country’s economic growth will “very likely remain above 7 percent in the next fiscal year”. However, it warns that “uncertainty about its momentum is high and downside risks ample.”