Economy slump: World Bank lowers India’s FY 20 growth estimate to 5%


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The fears regarding the weakening state of economy have deepened as various reports suggest that the slump in growth is going to stay for quite some time. The World Bank on Wednesday lowered its growth estimate for India to 5 per cent for the current fiscal from the earlier projection of 6%. The RBI and government's data had earlier predicted the same. The agency has forecast global economic growth at 2.5% in 2020.