The World Bank has projected an 8% growth for India in 2010, which will make it the fastest-growing economy for the first time,overtaking China’s expected 7.7% growth.
The multilateral lender has revised upwards the growth rate for the Indian economy this year to 5.1% from an earlier projection of 4%, according to its Global Development Finance Report released on Monday. India has consistently outperformed growth forecasts by the World Bank in the past.
Source: Economic Times
Couple of interesting points-
1. Clearly, predictions of WB are really off. I had in my earlierpost mentioned how it was being pessimistic in its prediction
2. WB has revised its prediction from 4% to 5.1% in just a couple of months. Now the questions is that what has changed in the last couple of months for India?
FDI has been flowing in regularly. However, I am still not sure how/why have they changed the prediction in a couple of months
3. The prediction looks very pessimistic for 2009 and overly optimistic for 2010
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