India will remain the fastest growing economy in 2016: World Bank

[Raftaar]

India will grow by a robust 7.8 per cent in 2016 and 7.9 per cent in the next two years, the World Bank said.

World Bank also predicted that India will be the fastest growing economy in the world in the next three years and would outpace China.

With the recent fall in oil prices, India remains the bright spot of the global economy as Chinese growth is predicted to slow further.


The World Bank estimates that China grew at an estimated 6.9 per cent in 2015 (0.3 per cent less than its June projection). The same report also said that China is estimated to grow at 6.7 per cent in 2016 and 6.5 per cent each in 2017 and 2018.

Meanwhile, Russia and Brazil are projected to remain in recession in 2016.
In contrast to other major developing countries, growth in India remained robust, buoyed by strong investor sentiment and the positive effect on real incomes of the recent fall in oil prices," the World Bank said.

India's currency and stock markets were largely resilient over the past year, even during bouts of volatility in global financial markets, the report said.

Reserve Bank of India, it said, has rebuilt reserves while net FDI flows have remained positive.

The region has smaller trade links with China than other regions, and is a net importer of oil and will benefit from lower global energy prices.

For FY 2016-17, India, the dominant economy in the region, is projected to grow at a faster 7.8 per cent.

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[Skull and Bones]

Good, lets remove the red tape and pave way for future growth.

 

[Raftaar]

Good, lets remove the red tape and pave way for future growth.

We have to remain patient, Things are changing ..country is evolving

 

[Mirza Jatt]

Sounds good. I hope people also grow as disciplined citizen while we grow economically.

 

[Skull and Bones]

We have to remain patient, Things are changing ..country is evolving

Well, not fast enough if you ask me. Potential is immense, there's so much to fix in the ground level, starting from the quality of primary education to improving the live of people below average earning group.

 

[$@rJen]

Sounds very positive for INdian economy... Even the stocks are doing well

 

[That Guy]

No surprise there, pretty much everyone saw this coming.

 

[$@rJen]

No surprise there, pretty much everyone saw this coming.

except the pdf chinese members

 

[Brahmaputra Mail]

Let's hope GST Bill gets passed this year. This will act as catalyst. We need to maintain this growth for another 20 years if we want to escape the middle income group and shift to higher income group. Failing to do so will make India settle in a limbo of middle income group.

 

[cerberus]

India will grow by a robust 7.8 per cent in 2016 and 7.9 per cent in the next two years, the World Bank said.

World Bank also predicted that India will be the fastest growing economy in the world in the next three years and would outpace China.

With the recent fall in oil prices, India remains the bright spot of the global economy as Chinese growth is predicted to slow further.


The World Bank estimates that China grew at an estimated 6.9 per cent in 2015 (0.3 per cent less than its June projection). The same report also said that China is estimated to grow at 6.7 per cent in 2016 and 6.5 per cent each in 2017 and 2018.

Meanwhile, Russia and Brazil are projected to remain in recession in 2016.
In contrast to other major developing countries, growth in India remained robust, buoyed by strong investor sentiment and the positive effect on real incomes of the recent fall in oil prices," the World Bank said.

India's currency and stock markets were largely resilient over the past year, even during bouts of volatility in global financial markets, the report said.

Reserve Bank of India, it said, has rebuilt reserves while net FDI flows have remained positive.

The region has smaller trade links with China than other regions, and is a net importer of oil and will benefit from lower global energy prices.

For FY 2016-17, India, the dominant economy in the region, is projected to grow at a faster 7.8 per cent.

GO TO HOME PAGE

Its not time for chest thumping but to carry out reforms which are pending GST &Labour reforms,land etc etc

I hope polity of this country became mature and cut differences when it comes national interest

 

[kbd-raaf]

Let's hope GST Bill gets passed this year. This will act as catalyst. We need to maintain this growth for another 20 years if we want to escape the middle income group and shift to higher income group. Failing to do so will make India settle in a limbo of middle income group.

India is in the lower income group right now. Getting to upper-middle in the next 20 years will be a massive achievement. Higher income is pretty unlikely.

 

[somebozo]

While everyone can predict it also takes efforts from local government to meet the expectations..India has a huge consumer base..moving more people out of poverty to production will help boost the national industry...

 

[The BrOkEn HeArT]

You can repeat this report year after year. This is India's time now.

 

[Hellfire]

Let's hope GST Bill gets passed this year. This will act as catalyst. We need to maintain this growth for another 20 years if we want to escape the middle income group and shift to higher income group. Failing to do so will make India settle in a limbo of middle income group.

Not likely. Our greatest enemy - Being Indian! The subsidies will be removed - pinch will be felt by middle class only. The subsidies were meant to be for lower class and poor, but middle class cries because the biggest beneficiaries are from this class which can actually do without the subsidies. Stupid us!

 

[Srinivas]

Let's hope GST Bill gets passed this year. This will act as catalyst. We need to maintain this growth for another 20 years if we want to escape the middle income group and shift to higher income group. Failing to do so will make India settle in a limbo of middle income group.

I think based on the projections the economic growth will continue for 3 to 4 decades !

Because India is a giant and there is lot of potential for growth, In services, Infra, Manufacturing and Agriculture.

We have the most fertile lands and good weather conditions to grow food and animals.

We have human resources to train and employ in Manufacturing and services.

We need to address research and development that will make India a complete entity and a giant !