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India to Regain Fastest Growing Economy Tag

Staff reporter, New Delhi
12/01/2018   0 Comments

According to the World Bank’s Global Economic Prospects, India’s economy is expected to grow by 7.3% in 2018-19 and 7.5% in the medium term on the back of revival of private investment as business adjusts to the Goods and Services Tax regaining the fastest growing economy tag from China when the Chinese economy is estimated to slow down to 6.4% in 2018 from the previous rate of 6.8% in 2017.

"Private investment is expected to revive as the corporate sector adjusts to the GST; infrastructure spending increase, partly to improve public services and internet connectivity; and private sector balance sheet weaknesses are mitigated with the help of the efforts of the government and the Reserve Bank of India (RBI)" said the World Bank's Global Economic Prospects.


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