India economy is expected to grow by about 5.5 per cent this year, according to initial estimates by the World Bank. It means the multilateral agency expects the economy to grow by more than 5.5 per cent in the October-December quarter.

The Bank might also peg India’s GDP to grow by a little less than six per cent next year and seven per cent in 2014 and 2015. Kaushik Basu, senior vice-president & chief economist at the World Bank (he was India’s chief economic advisor till a few months earlier), today told a press conference on the sidelines of an economic conclave that the multilateral institution was likely to peg India’s growth at 5.5 per cent in 2012.