Home Economy and Finance Growth in India solidifying, will propel upwards says World Bank

Growth in India solidifying, will propel upwards says World Bank

Extolling the growth of the Indian Economy once again, the World Bank on Sunday said that the Indian economy is in the consolidation phase and is projected to accelerate to 7.3% in the 2018-2019, and 7.5% in the next two years with stronger private spending and export growth as the key drivers. The bank asserted that the economy seems to have recovered from the ephemeral disruptions caused by Goods and Services Tax(GST) implementation and demonetization move.

“Prompted by the adoption of the GST and the recapitalization of banks, growth in India is firming up and is projected to accelerate further,” the World Bank said in its latest report on South Asia.

On the production side, the turnaround in the second half was led by manufacturing (that grew at 8.8% versus 2.7% in the first half). Agriculture growth improved, and services growth held steady at 7.7%. On the demand side, the pick-up in growth was reflected in a sharp acceleration in gross fixed capital formation to 11.7% in the second half from 3.4% in the first.

- Advertisement - - Article resumes -

Ascribing the unfavourable external situations, the World Bank has said that a worsening trade deficit has caused the current account deficit to widen- on the back of strong import demand, higher oil prices and exchange rate depreciation- from a mere 0.7% of the GDP in the fiscal 2016-2017 to 1.9% in this fiscal year.

Of the internal and external risks that India faces, the World Bank has cautioned high crude oil price and uncertain global trade environment may pose risk for the economy.

A few days back, the World Bank had lauded Modi Government’s policies, particularly Swachh Bharat mission, and claimed it to be world’s biggest sanitation movement.

Share This Post With Your Friends & Fans:
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.


Don't Miss it: Exit Polls At A Glance

#MakePoliticsFunAgain Catch all the Latest on exit polls results with our summary

Most read articles recently

Here is what may have triggered Rajdeep Sardesai’s own colleague slamming him for being a pliant journalist

Anjana Om Kashyap, one of the Editors of Aaj Tak who conducted that interview interestingly took to Twitter today to castigate what appears to be her colleague, Rajdeep Sardesai.

Read this before you believe the ABP-Nielsen Exit Poll that gave NDA only 277 while others gave a thumping majority

While all other polls were giving a thumping majority to BJP and NDA, Nielsen chose to "customise" their survey and simply delete voter responses were overwhelmingly in favour of BJP.
Ravish Kumar has a mental breakdown as BJP set to form a government at centre, according to exit polls

NDTV journalist Ravish Kumar has a prolonged meltdown on his show after the Exit Polls predicted a landslide BJP victory

Most of the Exit Polls suggested that BJP may be well placed to form another government at the centre

After Anjana Om Kashyap, now Shweta Singh calls out Rajdeep Sardesai’s bias among others

Sweta Singh has called out the blatant bias in the Left media and even Rajdeep Sardesai among others.

Congress must die: Expelled AAP leader and Swaraj India President Yogendra Yadav

Yogendra Yadav said Congress is single biggest obstacle for creating an alternative
Congress has a number of excuses lined for their predicted loss, all of them contradict each other

Congress’ new excuse for predicted loss: North Indian voters are not as educated as South Indians

Congress spokesperson Shama Mohammad stated that the reason of Congress' bad performance in North Indian states is that the people in North Indian states are 'pliable' and they are not educated like the people in the south.

‘Journalists’ now use the fall of the Left in Australia to console themselves and insinuate that Modi can meet the same fate

Shekhar Gupta has hinged his argument that exit polls are untrustworthy based on the recent Australian elections, in which conservative coalition registered a victory against popular opinion and exit polls

After 2019 Exit Polls, Congress official handle also says ‘Aayega To Modi Hi’

Looks like after the 2019 Exit Polls predicted a thumping majority for BJP and PM Modi, Congress too is saying #AayegaToModiHi. 

Sensing a possible Modi victory, Rajdeep Sardesai proceeds to discredit his own channel’s Exit Poll even before it is aired

Sensing that PM Modi might just come back to power for a second term, he has proceeded to discredit his own channel's Exit Poll which is yet to be aired.
Subscribe to Day's Top Stories

Latest articles

Connect with us

163,736FansLike
139,699FollowersFollow
63,695SubscribersSubscribe

Don't miss these

Share This Post With Your Friends & Fans: