Sumit Kumar Dwivedi
NEW DELHI: The world bank has forecast a growth of 7.3% for India in fiscal year 2018-2019 & 7.5% in 2019-2020.Making India the fastest growing among the major emerging economies.
“This reflects the rebust of private consumption & strengthening investments”. According to world bank June 2018 edition of Global Economic prospect report, India’s growth projections remain unchanged since January 2018.
Ayhan kose, director of development prospect growth at world bank said, Indian economy revise, resilient & has the potential to deliver sustained growth.
World bank said ,due to India’s growth South Asian economy is also strengthen to 6.9% in 2018 & 7.1% in 2019.
India’s growth potential is about 7% Kose said, attributing it to major economic reforms undertaken by NDA government.
World bank also said that China is expected to slow down from 6.9% in 2017 to 6.5% in 2018 to 6.3% in 2019 & 6.2% in 2020.
Kose said currently India is In a very strong position . Seeking to increase female labour force participation, India has a room for improvement in secondary education completion rates.
Kose noted here are risks that all emerging markets economics are facing because of global economic development,giving on instances, he said disorderly lightening of global financial condition could have implications for emerging market economies.
India is facing higher oil price hike like other oil importers, Kose explained.The bank said in India investment growth has firmed recently as effect of temporary factor wane.
The world bank in its latest report also said that the growth of South Asia is also expected to reach 7.2% by 2020 amid robust domestic demand in India is temporary policies driven disrespective fade.
Else where in the region ongoing recoveries in Bangladesh, Pakistan & Sri Lanka are expected to be accompanied by moderating activities in Afghanistan, Bhutan & Maldives.
Sumit Kumar Dwivedi