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India’s Economy will grow by 7.2% in 2017-2018 predicts World Bank

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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-UN demoted India GDP forecast for 2016 to 7.5%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