World Bank Chief Says 'Dire Outlook' For Indian Economy; Indicates 9.6% Dip in Economy

The World Bank Chief Economist for South Asia Hans Timmer has stated that though the Indian Government's effort with limited resources was commendable, the Indian economy has a “dire outlook” after the impact of the lockdown. A report by the bank mentioned that Indian economy might take a dip by around 9.6% for the fiscal year that started March 2020. However, a regional growth of 4.5% is expected in FY2021.