June 7, 2018

World Bank sees India as fastest growing economy for next three years

Washington: The Indian economy will see a robust GDP growth of 7.3% in 2018-19 and 7.5% for the next two as “factors holding back growth in India fade”, the World Bank has forecast, allowing the country to retain the tag as the world’s fastest growing major emerging economy.

“India’s economy (today) is robust, resilient and has potential to deliver sustained growth,” Ayhan Kose, Director of the Development Prospects Group at the World Bank, told PTI. Growth in India is projected to advance 7.3% in FY 2018-19 (1 April 2018-31 March 2019) and 7.5% in FY 2019-20, reflecting robust private consumption and strengthening investment, the bank said in its June 2018 edition of the Global Economic Prospect report.

The report, released on Wednesday, is the global lender’s flagship publication on the state of the world economy. It said that growth in South Asia is projected to strengthen to 6.9% in 2018 and to 7.1% in 2019, mainly as “factors holding back growth in India fade.”

Read more at https://www.livemint.com/Politics/TQmmRQnpW1ZcB1qQsi3h6H/World-Bank-sees-India-as-fastest-growing-economy-for-next-th.html

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