United Nations, Oct 9 (TIWN) India's economy is expected to grow by 8.3 per cent this fiscal year, according to the World Bank, making it the second-fastest-growing major economy.

The Bank's Regional Economic Update released on Thursday said that after the "deadly second wave" of Covid-19 in India "the pace of vaccination, which is increasing, will determine economic prospects this year and beyond".  "The trajectory of the pandemic will cloud the outlook in the near-term until herd immunity is achieved," it cautioned.