The World Bank has projected India's GDP growth at 7.3 per cent for the next financial year, accelerate further to 7.5 per cent in 2019-20. The World Bank's biannual publication, India Development Update: India's Growth Story, expects the economy to clock a growth rate of 6.7 per cent in the current fiscal ending March 31. The report has also observed that a growth of over 8 per cent will require “continued reform and a widening of their scope” aimed at resolving issues related to credit and investment, and enhancing competitiveness of exports.
It said, “The Indian economy is likely to recover from the impact of demonetisation and the GST, and growth should revert slowly to a level consistent with its proximate factors. That is, to about 7.5 per cent a year.” The economy is expected to grow at 6.6 per cent in the current fiscal ending March 31, as per the second advanced estimates of the Central Statistics Office, compared to 7.1 per cent in 2016-17.
