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In the report titled ‘Global Economic Prospect’, the World Bank has said that the Indian economy would grow by 6.9 per cent in fiscal 2012-13, notwithstanding policy uncertainties, fiscal deficit and inflation. The agency said that growth in India in 2011 was weak due to a poor monetary policy, stalled reforms and electricity shortages. These factors, along with fiscal and inflation concerns, cut into investment activity. According to the report, India ’s economic growth rate slipped to a nine year low of 6.5 per cent in 2011-12. The government has pegged growth at 7.6 per cent for the current fiscal. The economy has expanded by 8.4 per cent in the preceding two years.

Indian economy to grow by 6.9% in fiscal 2012-13: World Bank