India’s gross domestic product is expected to spike to 7.2% in the 2017-18 financial year from 6.8% the previous fiscal, according to a new World Bank report titled “Globalization Backlash”.
The international agency forecast that India’s economic growth will rise gradually to 7.7% in 2019-’20, underpinned by a recovery in private investments. The World Bank analysis, however, has warned against “significant risks to India’s favorable growth outlook. Among them, it has highlighted uncertainties in the global environment, an unclear picture of the impact demonetization has had on small and informal firms, hindrances to private investment and rapid hikes in the prices of oil and other commodities.
Takeaways from above News-
- India’s economy will grow by 7.2% in 2017-18, predicts World Bank
- The World Bank report titled “Globalization Backlash”
- The president of the World Bank is Jim Yong Kim and it is headquartered in Washington, D.C., United States.
If you have any other takeaways, do share with us in the comment section
Source- Hindustan Times