INSUBCONTINENT EXCLUSIVE:
domestic product) is expected to grow at 7.3 per cent in fiscal year 2018-19, and 7.5 per cent in following two years, World Bank has
forecast, attributing it to an upswing in consumption and investment
The bank said country will continue to be fastest growing major economy in world
China's economic growth is projected to slow down to 6.2 each in 2019 and 2020 and 6 per cent in 2021, according to January 2019 Global
Economic Prospects report released by World Bank on Tuesday
In 2018, Chinese economy is estimated to have grown by 6.5 per cent as against India's 7.3 per cent.In 2017, China with 6.9 per cent growth
was marginally ahead of India's 6.7 per cent, mainly because slowdown in Indian economy due to demonetisation and implementation of Goods
India is still fastest growing major economy," World Bank Prospects Group Director Ayhan Kose told PTI in an interview
"With investment picking up and consumption remaining strong, we expect India to grow 7.3 per cent in fiscal year 2018-2019, and average 7.5
per cent in 2019 and 2020
India registered quite a bit of pick up in doing business ranking
investment growth has firmed as effects of temporary factors wane, World Bank said in its latest report
While investment continued to strengthen amid GST harmonisation and a rebound of credit growth, consumption remained major contributor to
in line with June forecasts
Private consumption is projected to remain robust and investment growth is expected to continue as benefits of recent policy reforms begin
to materialise and credit rebounds.Strong domestic demand is envisioned to widen current account deficit to 2.6 per cent of GDP next year
Inflation is projected to rise somewhat above midpoint of Reserve Bank of India's target range of 2 to 6 per cent, mainly owing to energy
and food prices, bank said
It said recent introduction of GST and steps toward demonetisation are expected to encourage a shift from informal to formal sector."India's
World Bank's estimate suggests that India's potential growth rate is around seven per cent, and is expected to remain around seven per cent,
he said in response to a question
from commenting on economic performance of Modi government that too in an election year, World Bank official said growth performance of
India as compared to other emerging markets has been quite impressive."India's growth performance has been quite impressive
Year after year it has delivered strong numbers around its potential growth," he said.
