India to grow 7.4% for current fiscal: World Bank

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A growth rate of 7.3 per cent has been projected for India this year and 7.5 per cent for 2019 and 2020 by The World Bank. The bank also noted that Indian economy has recovered from the effects of demonetisation and the GST (Goods and Services Tax).

The World Bank’s twice-a-year South Asia Economic Focus report stated that growth is expected to accelerate from 6.7 in 2017 to 7.3 per cent in 2018 and to subsequently stabilize, supported by a sustained recovery in private investment and private consumption.

In the India section of the report, it stated that India should strive to accelerate investments and exports to take advantage of the recovery in global growth.

The World Bank acknowledged that disruptions from demonetisation and events surrounding the implementation of the GST led to a setback in economic activity of India.

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