World Bank projects India’s growth at 7.3% in 2018

  • World Bank projects India’s growth at 7.3% in 2018
10-01-2018 | Pratidin Bureau. |

After a stressful period for Indian economy, India is likely to regain its position of pride by recovering the tag of one of the fastest growing economic country of the world, as the World Bank predicted its bright future for the fiscal year of 2018-19.

The World Bank, in its report on Wednesday projected India’s growth rate at 7.3 percent in 2018-19 and which will be growing in the following year by 0.2 percent. According to the World Bank China will be seen unchanged at 6.3 percent for 2018 and 2019.

Observing the current situation of the country the World Bank wrote that, “A downgrade to India’s fast pace of expansion, is mainly reflecting a softer-than-expected recovery in private investment.” The report added that the Government’s recent recapitalization package for public sector banks will help to “resolve banking sector balance sheets, support credit to the private and lift investment.” The condition of the global trade of India will also improve and grow, said the report.

The World Bank considered the recent reforms of India, including the demonetization, Make in India and Gross Domestic Product (GDP), will be very helpful in accelerating and achieving such goals.

Tags : World Bank India economic growth

Leave a reply.