Indian Economy Boost by 7.2 percent, World Bank Says

Apparently, India was able to recover from the negative effects brought by the demonetization as the World Bank estimated a 7.2 percent strong growth for the Indian economy, compared with 6.8 percent gained in 2016.

According to an official from the said international financial institution, they revised its projections regarding India’s improvement with 0.4  percentage points versus forecast made in January, however, the country still wear the crown as the fastest major economy to grow among other countries around the world. While the growth forecast for China remained steady at 6.5 percent for this year and 6.3 percent for the upcoming 2018 and 2019.

Based from the most recent Global Economic Prospects of World Bank, projected growth for India is 7.5 percent by the year 2018 and 7.7 percent for the following year, 2019.

In both years, the assessment was down to 0.3 percent and 0.1 percent points in comparison to predictions in the first month of the year.

Given that increase towards the India’s economy in FY2017 is roughly lower than the previous predictions that reflect indicates a sustained resurgence in the private investment sector as foreseen back then.