About US | Contact Us
SC directs Kerala police to grant round-the-clock security to 2 women who entered Sabarimala shrine..
Rahul extends support to Mamata's mega opposition rally in Kolkata on Saturday..
Reliance Industries shares up 2 pc post Dec qtr results..
Everyone tentative to speak as they don't know facts of case: Richa on Hirani..
TMC eyes Delhi, says its mega rally will sound BJP's death knell..
Chahal grabs six as India bowl out Australia for 230..
Tulsi Gabbard apologizes for her past statement on LGBTQ..
Second earthquake hits J&K in 24 hours..
Ranveer, Alia and other Bollywood stars meet PM Modi..
Alok Verma shunted out as CBI chief..
Congo: Opposition leader Tshisekedi wins presidential vote..
BJP open to alliances, cherishes old friends : PM..
Where are the jobs ? asks Shiv Sena after general category quota..
India's GDP expected to grow at 7.3 pc in 2018-19..
 
Opinion Poll

Loading...

 
India's GDP expected to grow at 7.3 pc in 2018-19

India's GDP is expected to grow at 7.3 per cent in the fiscal year 2018-19, and 7.5 per cent in the following two years, the World Bank has forecast, attributing it to an upswing in consumption and investment.

The bank said India will continue to be the fastest growing major economy in the world.

China's economic growth is projected to slow down to 6.2 each in 2019 and 2020 and 6 per cent in 2021, according to the January 2019 Global Economic Prospects report released by the World Bank on Tuesday.

In 2018, the Chinese economy is estimated to have grown by 6.5 per cent as against India's 7.3 per cent. In 2017, China with 6.9 per cent growth was marginally ahead of India's 6.7 per cent, mainly because the slowdown in the Indian economy due to demonetisation and implementation of the Goods and Services Tax (GST), the report said. 

"India's growth outlook is still robust. India is still the fastest growing major economy," World Bank Prospects Group Director Ayhan Kose told PTI in an interview.

"With investment picking up and consumption remaining strong, we expect India to grow 7.3 per cent in the fiscal year 2018-2019, and average 7.5 per cent in 2019 and 2020. India registered quite a bit of pick up in doing business ranking. The growth momentum is there (in India)," Kose told PTI.

In India, the growth has accelerated, driven by an upswing in consumption, and investment growth has firmed as the effects of temporary factors wane, the World Bank said in its latest report. 

Domestic demand has strengthened as the benefits of structural reforms such as the Goods and Services Tax (GST) harmonisation and bank recapitalisation take effect.

"India's growth accelerated to an estimated 7.3 per cent in FY2018/19 (April to March) as economic activity continued to recover with strong domestic demand. While investment continued to strengthen amid the GST harmonisation and a rebound of credit growth, consumption remained the major contributor to growth," the World Bank said.

 

S - PTI

 
 
           
 
Copyright © 2016. nwztoday, Bhubaneswar, Odisha. All rights reserved.   Powered by: nwztoday