World Bank Report: India can achieve sustained growth of 8% G.D.P

NewsBharati    15-Mar-2018
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New Delhi, March 15: Commenting that India needs to durably recover from two lagging engines of growth which are– private investments and exports, the World Bank has said that Indian economy can achieve a growth rate of 8 percent and higher on a continuing basis.

 
The World bank report observed that a growth of over 8 percent will require continued reform and a widening of their scope, that will aim at resolving issues related to credit and investment and enhancing the competitiveness of exports.

Despite the Goods and Service Tax (GST) and Demonetization drive, World Bank projects India's GDP growth at 7.3 percent for the next financial year

The World Bank has projected India's GDP growth at 7.3 percent for the next financial year which it states will accelerate further to 7.5 percent in 2019-20.

The report also says that services will continue to remain the main driver of economic growth; industrial activity is poised to grow, with manufacturing expected to accelerate following the implementation of the GST, and agriculture will likely grow at its long-term average growth rate.

The World Bank's biannual publication, India Development Update - India's Growth Story, expects the economy to clock a growth rate of 6.7 percent in the current fiscal ending 31st March. 

World Bank GST Demonetization Indian economy Private Investments.