Bangladesh's GDP growth to be faster than India: WB
World Bank projected that the Gross Domestic Product (GDP) of Bangladesh will grow faster than India in 2019.
The report, "Growth in South Asia Slowdown," was released from the World Bank's headquarters in Washington on Sunday, reports the Economic Times.
The report said in Bangladesh, the real GDP growth is estimated at 8.1 per cent in 2019, up from 7.9 per cent in 2018. The country's growth is projected at 7.2 per cent in 2020 and 7.3 per cent in 2021, it added.
On the other hand, in India, growth is projected to fall to 6.0 this fiscal year. Growth is then expected to gradually recover to 6.9 per cent in fiscal year 2021 and to 7.2 per cent in the following year.
In India, domestic demand has slipped, with private consumption growing 3.1 per cent in the last quarter from 7.3 per cent a year ago, while manufacturing growth plummeted to below 1 per cent in the second quarter of 2019 compared to over 10 per cent a year ago, the report mentioned.
Growth in South Asia is projected to fall to 5.9 per cent in 2019, down 1.1 percentage points from April 2019 estimates, casting uncertainty about a rebound in the short term, the World Bank said in its latest report.
Nepal is also estimated to grow faster than India in 2019, according to the report.