India’s GDP forecast, as per World Bank’s latest report “2018 Global Economic Prospects”

The World Bank (WB) in its latest report “Global Economic Prospects (GEP-2018)” has projected India’s GDP growth rate at 7.3% in 2018 and 7.5% for the next two years. As per report, despite initial setbacks from demonetisation and Goods and Services Tax (GST), India’s economy is estimated to have grown at 6.7% in 2017. Ayhan Kose, the Director of World Bank(WB)’s Development Prospects Group (DPG), stated that India’s growth potential will be around 7% for the next 10 years. For global economy, World Bank’s outlook, for the first time in many years, is better than expected with all regions seeing improved growth. However, it has warned that countries must make investments to improve their growth prospects, and the time to do that is before the next crisis hits, as it inevitably will.