- India’s GDP is expected to grow at 7.3% in the fiscal year 2018-19, and 7.5% in the following two years, the World Bank has forecast, attributing it to an upswing in consumption and investment.
- 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% in 2021, according to the January 2019 Global Economic Prospects report released by the World Bank.
- In 2018, the Chinese economy is estimated to have grown by 6.5% as against India’s 7.3%.
- In 2017, China with 6.9% growth was marginally ahead of India’s 6.7%, mainly because the slowdown in the Indian economy due to demonetisation and implementation of the Goods and Services Tax (GST).
- India’s growth outlook is still robust.
- India is still the fastest growing major economy.
- With investment picking up and consumption remaining strong, we expect India to grow 7.3% in the fiscal year 2018-2019, and average 7.5% in 2019 and 2020.
- India registered quite a bit of pick up in doing business ranking.
- The growth momentum is there (in India).
- In India, the growth has accelerated, driven by an upswing in consumption, and investment growth has firmed as the effects of temporary factors wane.
- 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% 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.
- India’s GDP is forecast to grow by 7.3% in FY2018/19 and 7.5% thereafter, in line with June forecasts.
- Private consumption is projected to remain robust and investment growth is expected to continue as the benefits of recent policy reforms begin to materialise and credit rebounds
- Strong domestic demand is envisioned to widen the current account deficit to 2.6% of GDP next year. Inflation is projected to rise somewhat above the midpoint of the Reserve Bank of India’s target range of 2 to 6%, mainly owing to energy and food prices.
- It said in India the recent introduction of the GST and steps toward demonetisation are expected to encourage a shift from the informal to the formal sector.
- India’s recent growth numbers suggest that the economy remains robust despite temporary setbacks (due top demonetisation and GST).
- The World Bank’s estimate suggest that India’s potential growth rate is around 7%, and is expected to remain around 7%.
