Question

"Growth in India projected to decelerate to 5% in 2019-2020: World Bank." -The Economic Times

Does the given statement mean that welfare of people of India decrease at the same rate? Give your

answer with a valid reason.
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Answer 1

Answer:

Dear student,

Growth in India is projected to decelerate to five per cent in FY(financial year) 2019/20 amid enduring financial sector issues," the WB report said.

It said key risks to the outlook include a sharper-than-expected slowdown in major economies, a re-escalation of regional geopolitical tensions, and a setback in reforms to address impaired balance sheets in the financial and corporate sectors.

In India, economic activity slowed substantially in 2019, with the deceleration most pronounced in the manufacturing and agriculture sectors, whereas government-related services sub-sectors received significant support from public spending, the Bank said.

Sharp slowdowns in household consumption and investment onset, the rise in government spending. High-frequency data suggest that activity continued to be weak for the rest of 2019, the Bank said.

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