Business Mantra News
Despite some slowdown in Indian Economy due to structural reforms such as GST and demonetization, uplifts of Economy is being forecasted by the United Nations. As it has predicted that the India’s economy is likely to expand by 7.2 per cent in 2018 and go up further to 7.4 per cent in 2018.
India can achieve 8 % growth for the next 20 years. As per UN’s prediction, it is expected that India’s Gross Domestic Product (GDP) could rise to $8 trillion over the next 15 years.
Despite UN’s projections of rise of GDP growth of India, an UN Economic official said that the India have to think as how to maintain and consolidate its growth for a long period of time. To achieve the target of 8% growth till 20 years India needs to be objective and pragmatic and bring major reforms like promote investment and improve living conditions of its people.
The UN officer admired the Indian Government for focus on Public Investment and improve infrastructural status of the country.
NITI Aayog Chairman has also praised by saying that “today, the Indian Economy is among the major economies, the fastest growing economy and it has now left China behind”. He also said that now the Indian Economy is back on the track and is in much suitable and sustainable position.