19-07-2017 07:00 AM | Pooja Nevewani | My Indian Dream
World bank mentioned India as fourth fastest growing economy in the world.
World Bank has released its latest edition of the Global Economic Prospects. It states the economic health of its member nations and India has stood fourth amongst the fastest growing economies in the world!
India’s economic growth rate has been at a rate of 7.2 percent in the current fiscal year. World Bank mentioned growing government expenditure and rising export as country’s reasons for growth. In the June edition of the Global Economic Prospects, World Bank analysts mentioned about India’s acceleration in growth. Cash shortages have eased and exports are rising. Government’s spending, like one in capital formation, has encouraged some soft private investments.
The World Bank further predicts India to show an accelerated growth in the economy at the rate of 7.2 percent in the current fiscal period from April 1, 2017 to March 18, 2018. The growth rate will be further increased by 7.5 percent in the following fiscal year. Policy reforms and domestic demands will continue to be strong.
Other countries ahead of India in the ranking are Ethiopia, Uzbekistan and Nepal secured first, second and third rank respectively.
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