World Bank sees 6 percent growth for India

March 12, 2013 at 5:41 AM

NEW DELHI, March 12 (UPI) -- India's economy is expected to grow 6 percent next year, World Bank President Jim Yong Kim said in New Delhi.

"We think India is going to grow by 6 percent next year and we hope for more increase in future," he said after meeting with Indian Finance Minister Palaniappan Chidambaram.

India's growth rate is hovering at a decade low of about 5 percent but the country's Economy Survey predicts the rate will be more than 6 percent next year, The Hindu reported.

"The growth rate of 5 percent here is one that has been somewhat disappointing but we are very encouraged by what has happened and what will happen," said Kim, who was on a three-day visit to India.

"We think India will get back to higher levels of growth and I was very impressed with all the things done by the Minister [Chidambaram] and his team to ensure that there is that growth in future."

Related UPI Stories
Latest Headlines
Trending Stories
Pepsi to release 'Back to the Future Part II' inspired Pepsi Perfect
Nobel Prize in medicine awarded to parasitic disease scientists
Womb transplants begin in U.K. after Sweden's success
Gay Vatican priest comes out day before Pope Francis begins synod on family issues
Scientists find roadmap that may lead to 'exercise pill'