With 8.3% growth, India expected to emerge as 2nd fastest-growing major economy: World Bank

India’s economy is expected to grow by 8.3 percent this fiscal year, according to the World Bank, making it the second-fastest-growing major economy. The Bank’s Regional Economic Update released on Thursday said that after the “deadly second wave” of Covid-19 in India “the pace of vaccination, which is increasing, will determine economic prospects this year and beyond”. “The trajectory of the pandemic will cloud the outlook in the near-term until herd immunity is achieved,” it cautioned.