World bank’s forecast for Growth Of India to 7.7% by 2020

The World Bank is an international financial institution that provides loans to countries of the world for capital programs.

World Bank Group is a unique global partnership fighting poverty.

  • World Bank has revised India’s growth figures by 0.4 percentage points as compared to its January forecast.
  • The World Bank has projected a strong 7.2% growth rate for India this year against 6.8% growth in 2016.
  • The growth projections for China remain unchanged at 6.5% for 2017 and then 6.3% for the next two years 2018 and 2019.
  • According to reports demonetisation in November 2016 caused a slight disruption to India’s growth recovery, following a favourable monsoon last fiscal, but things seems to be bettering.
  • India’s growth would increase gradually to 7.7 per cent by FY20
  • India will regain its crown of fastest growing country as soon as possible.
  • Demonetisation was one of the main reason of decline in growth rate of India.

    The reason for this growth is GST 

  • Domestic demand is expected to remain robust in India supported by ongoing policy reforms,
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