New Delhi: The World Bank on Thursday maintained its growth forecast for India in 2015-16 at 7.5 percent, while lowering marginally the projection for 2016-17 to 7.8 percent, and for 2017-18 to 7.9 percent. "However, acceleration in growth is conditional on the growth rate of investment picking up to 8.8 percent during FY 2016-FY 2018," the bank said in its latest India Development Update released here.

"While growth will very likely remain above 7 percent in the next fiscal year, there is significant uncertainty about the momentum of the economy," it added. The earlier bi-annual update, released in April, had estimated gross domestic product (GDP) growth at 7.9 percent next fiscal and at 8 percent in 2017-18.