World Bank Report- Shifting Gears: Digitization and Services-Led Development

World Bank Report- Shifting Gears

Question: Which organization has released the report titled, ‘Shifting Gears: Digitization and Services Led Development’?
a) IMF
b) World Bank
c) NITI Aayog
d) WTO
Ans: b
Context

  • World bank has recently released a report titled, ‘Shifting Gears: Digitization and Services Led Development’ recently?

Related Facts

  • As per the report, India’s real Gross Domestic Product (GDP) in the current fiscal year is estimated to grow by 8.3%.
  • Accommodative fiscal and monetary policies and low interest rates globally have been key to mitigating the pandemic’s economic impact on households and firms.
  • As per report, in the next financial year, India’s economic prospects will be determined by its pace of vaccination against covid-19 and successful implementation of agriculture & labour reforms.
  • India’s Gross Domestic Product (GDP) increased by 20.1% in first quarter (April-June quarter) of financial year 2021-22 in the backdrop of “a significant base effect, limited damage to domestic demand and strong export growth”.
  • Economic data such as ‘GDP growth rate’ are calculated on year-on-year basis. Thus, a low growth rate in the previous year leads to low base for the number in current year.

By Kameshwar shukla

Reference: https://www.thehindu.com/business/Economy/india-estimated-to-grow-at-83-in-the-current-fiscal-world-bank/article36871360.ece