Question

What is India's GDP growth forecast for FY 19, as per World Bank's latest report "India Development Update- India's Growth Story"? [March 2018]

• A. $8.0\%$
• B. $6.6\%$
• C. $7.5\%$
• D. $7.3\%$

Answer 1

Answer: (D)

$7.3\%$

According to the World Banks latest report "India Development Update India's Growth Story", India's GDP growth has been projected at $7.3\%$ for the financial year FY 19 (2018-19) and it is expected to accelerate further to $7.5\%$ in $2019-20$. As per report, the World Bank expects that the Indian economy to clock a growth rate of $6.7\%$ in the current fiscal FY $18$ ending March 31. However, the report observed that a growth of over $8\%$ will require continued reform and a widening of their scope, aimed at resolving issues related to credit and investment and enhancing the competitiveness of exports. The World Bank report further said that accelerating the growth rate will also require continued integration into global economy. It pitches for making growth more inclusive and enhancing the effectiveness of the Indian public sector.