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  • April 10, 2019

India's Economy Robust, Resilient, Potential for Sustained Growth

The Global Economic Prospect, the World Bank’s flagship publication on the state of the world economy reported that growth in India is projected to advance 7.3% in Fiscal Year (FY) 2018/19 (April 1, 2018-March 31, 2019) and 7.5% in FY 2019/20. Growth in South Asia is expected to strengthen to 6.9% in 2018 and to 7.1% in 2019, mainly as factors holding back growth in India recede.

Ayhan Kose, Director of the Development Prospects Group at the World Bank, said, "India's economy (today) is robust, resilient and has potential to deliver sustained growth.” It holds the title of the fastest growing country among the world's major emerging economies.

India's growth potential is about 7%, and it is currently increasing at a pace above its potential, he added, giving credit to the major economic reforms and fiscal measures undertaken by the NDA government.

"India is doing well. Growth is being robust. Investment growth remains high. Consumption remains strong. All in all these numbers are encouraging," Ayhan Kose said, referring to the World Bank report.

"In terms of economic growth, the fact that India is able to deliver a robust consumption growth, robust investment... All these are good news. The big issue is now that India has a potential to sustain this growth and we are optimistic about India to realise that potential," he said.

The Global Economic Prospect, the World Bank’s flagship publication on the state of the world economy reported that growth in India is projected to advance 7.3% in Fiscal Year (FY) 2018/19 (April 1, 2018-March 31, 2019) and 7.5% in FY 2019/20. Growth in South Asia is expected to strengthen to 6.9% in 2018 and to 7.1% in 2019, mainly as factors holding back growth in India recede.

Ayhan Kose, Director of the Development Prospects Group at the World Bank, said, "India's economy (today) is robust, resilient and has potential to deliver sustained growth.” It holds the title of the fastest growing country among the world's major emerging economies.

India's growth potential is about 7%, and it is currently increasing at a pace above its potential, he added, giving credit to the major economic reforms and fiscal measures undertaken by the NDA government.

"India is doing well. Growth is being robust. Investment growth remains high. Consumption remains strong. All in all these numbers are encouraging," Ayhan Kose said, referring to the World Bank report.

"In terms of economic growth, the fact that India is able to deliver a robust consumption growth, robust investment... All these are good news. The big issue is now that India has a potential to sustain this growth and we are optimistic about India to realise that potential," he said.

 

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