World Bank predicts India’s gross domestic product (GDP) to 7.2% in the 2017-2018 from 6.8% in this fiscal year.
- Title of the World Bank report is “Globalization Backlash”.
- According to Globalization Backlash India’s economic growth will rise to 7.7% in 2019-2020.
- Exports to grow by 6% in the coming year.
- The Globalization Backlash report focuses on the economic climate in the South Asia.
- It predicts that the growth in this region will remain speedy and it is the fastest growing region in the world.
- The analysis of World Bank has warned against significant risks to India’s favorable growth outlook.
- There will be uncertainties in the global environment and the impact of demonetization.
- Hikes in the oil prices and other commodities.
- Hindrances in the private investments.
- Inflation to grow by 5.2% in 2017-2018 and 5.4% in 2018-2019
About World Bank:
- President of World Bank is Jim Yong Kim
- HQ Washington D.C. US