Menu
Search

India Will Grow At 7.2 Pct In 2017-18, Says World Bank

Monday, May 29, 2017
43
Separator
34
Separator
51
Separator
12
Separator
Print Print Email Email

NEW DELHI: World Bank expects India, the fastest growing major economy in the world, to grow at 7.2 pct in the current fiscal and further up to 7.7 pct by 2019-20 on strong fundamentals, reform momentum and improving investment scenario.

"Economic activity ought to accelerate in 2017-18. GDP is projected to grow at 7.2 pct from 6.8 pct in 2016- 17. Growth increases gradually to 7.7 pct by 2019-20, underpinned by recovery in private investments," World Bank said at the launch of 'India Development Report'.

The report says demonetisation in November 2016 caused a slight disruption to India's growth recovery, following a favourable monsoon last fiscal, but things seems to be bettering.

"India remains the fastest growing economy in the world and it will get a boost from its approach to GST which will reduce the cost of doing business for firms, reduce logistics cost of moving goods across states, while ensuring no loss in equity," said Junaid Ahmad, World Bank Country Director in India.

The World Bank report says that the overall impact of GST on equity and poverty is likely to be positive.

Read Also:
Worldwide Smartphone Sales Grew Over 9 Pct In 2017 Q1
'Foodgrain Output Likely To Touch New Record Next Crop Year'


Source: PTI
Write your comment now
Submit Reset
Looking For Loan? Let us Help you !!!
Product
Name
City
Phone
Email
Loan Amount
Annual Income
Preferred banks
Captcha
Type the characters you see in the picture
  Submit
Sign Up for DailyDose and Read the Day's Highlights
Email:
Social Media