World Bank to step up assistance to India beyond $2 billion in 2005

Optimistic of India sustaining 8.0 per cent gdp growth, World Bank indicated it will step up assistance to the country next fiscal from close to $2.0 billion this fiscal. “We are optimistic that Indian gdp growth would be up to 8.0 per cent in 2004-05 with fiscal adjustments taking place,” World Bank country director Michael F. Carter told PTI after signing the second structural adjustment loan agreement for Andhra Pradesh here. “India is doing extremely well. Growth has picked up and there has been improvement on the fiscal side also,” he said. The Central Statistical Organisation had pegged India’s gdp growth at 8.1 per cent for this fiscal. (PTI)