India to grow fastest at 7.3% in 2018, says World Bank

Indian economy has enormous growth potential and will regain its status as fastest growing economy in 2018, says the World Bank.

Indian economy has enormous growth potential and will regain its status as fastest growing economy in 2018, says the World Bank.
 
In a report titled "Global Economic Prospects", released on Wednesday, the international financial institution said India will grow to 7.3 per cent in 2018 and 7.5 per cent in 2019.
 
The report said global growth saw a recovery to 3.1 per cent in 2018 from 3 per cent in 2017.
 
"Higher growth of 7.3 per cent projected for 2018. Impressive advance corporate tax payments in third quarter indicates India's growth turnaround to be much better," tweeted economic affairs secretary Subhash Chandra Garg.
 
It projected 2017 growth at 6.7 per cent, which is higher than government's official estimate of 6.5 per cent released last week. 
 
China is forecast to grow 6.8 per cent in 2017 and slowdown to 6.4 per cent in 2018.
 
Source: Media reports

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