World Economic Situation and Prospects 2019: Key Facts about India
The World Economic Situation and Prospects 2019 report make the following projections for India:
- India’s GDP growth is expected to accelerate to 7.6 per cent in 2019-20 from an estimated 7.4 per cent in the current fiscal ending March 2019 and growth rate may come down to 7.4 per cent a year later.
- India will march ahead as world’s fastest-growing large economy in 2019 as well as in 2020, much ahead of China.
- India’s growth is driven by robust private consumption, a more expansionary fiscal stance and benefits from previous reforms and robust and sustained recovery of private investment remain crucial for lifting the medium-term growth.
While the report suggests a growth rate of around 3 per cent in 2019 and 2020 amid signs that growth has peaked and cautions that a worrisome combination of development challenges could further undermine growth.