Good news for the Indian economy just before the general budget. The World Bank has said that India’s growth rate will be 7.3 percent in 2018, and for the next two years, it will remain 7.5 percent and will leave China far behind in this regard. According to the bank, China’s growth rate will be 6.8 percent in 2017, which is 0.1 percent higher than India’s 6.7 percent, but in 2018 it will be reduced to 6.4 percent and in 2019 and 2020 respectively, it will be reduced to 6.3 percent and 6.2 percent respectively.
The Bank has said in the Global Economics Prospect released on Wednesday that with ambitious steps taken by the Government in the direction of comprehensive reform, there is immense potential for growth against India’s other emerging economies. Releasing from initial shocks due to note-taking and GST, it is growing at a rate of 6.7 per cent in 2017.
World Bank director Aihan Kose said, “There is a great chance that in the next decade, India will develop at a faster pace than other emerging economies. Therefore, I am not concerned about the projections of economic development in the near future. If we talk about the next ten years, there are tremendous possibilities within India. ”
According to KOE, India will have to take measures to increase the investment to make it a reality, India will have to take measures to increase investment. India will benefit greatly by implementing labor market, reforms related to education and health and removing barriers to investment. India is a country of youth and in this case no country does not even exist around it. On these strengths, India has the potential to achieve an average growth rate of seven per cent for the next ten years.
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