Growth in India is firming up despite GST and recapitalization of banks…expected to accelerate further:World Bank

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World Bank said that growth in India is firming up and projected to accelerate to 7.3 % in 2018-19 and further 7.5% in the next two years.  Global lender said that the Indian economy appears to gain huge strength and have recovered from the temporary disruptions caused by demonetization and the implementation of Goods and Service Tax (GST). Further stated that the domestic risks and less benign external environment have impacted the macroeconomic outlook.

World Bank remarks in its latest report on South Asia, “Prompted by the adoption of ‘Goods and Services Tax’ (GST) and the recapitalization of banks, growth in India is firming up and is projected to accelerate further.  Growth has already reached at 6.7% percent in the fiscal year 2017-18 and is expected to accelerate in upcoming months.”

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