World Bank projects higher growth in 2018 |
India, despite initial setbacks from demonetisation and Goods and Services Tax (GST), is estimated to have grown at 6.7% in 2017, according to the 2018 Global Economics Prospect released by the World Bank. "In all likelihood India is going to register higher growth rate than other major emerging market economies in the next decade. So, I wouldn`t focus on the short-term numbers. I would look at the big picture for India and big picture is telling us that it has enormous potential,” Ayhan Kose, Director, Development Prospects Group, World Bank, told PTI. He said in comparison with China, which is slowing, the World Bank is expecting India to gradually accelerate. “The growth numbers of the past three years were very healthy,” Kose said. To materialise its potential, India, Kose said, needs to take steps to boost investment prospects. There are measures underway to do in terms of non-performing loans and productivity, he said. “On the productivity side, India has enormous potential with respect to secondary education completion rate.
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