After IMF , World Bank also shows trust on India.According to World Bank , in the current fiscal year India's GDP growth will be 5.7 percent whereas in the last year , it was just 4.8 percent. World Bank has suggested to improve exchange rates and maintain large investment project , to continue growth of the country.
On Wednesday , IMF also annouced India's GDP growth could be 5.4 percent this year due to which share market showed a rapid growth. Sensex closed with 360 points gain and touched a new height
The World Bank report also said in India the problem is the banking sector's growing exposure to company debt. The fear is that this could ultimately affect the government's finances through its ownership of state banks and the need to prop up distressed but systemically important banks.
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