PTI, Washington :
India’s GDP may slow from 8.6 per cent in 2015 to 7.0 per cent in 2017 because of disruptions by demonetisation and the GST, the World Bank has forecast and warned that subdued private investment due to internal bottlenecks could put downside pressures on the country’s potential growth.
The International Monetary Fund yesterday also lowered India’s growth projection to 6.7 per cent in 2017, 0.5 percentage points less than its previous two forecasts and slower than China’s 6.8 per cent.
India’s economic momentum has been affected by disruptions from the withdrawal of banknotes and uncertainties around the Goods and Services Tax (GST), the World Bank said in its South Asia Economic Focus, a biannual economic update.
As a result, growth is expected to slow from 8.6 per cent in 2015 to 7.0 per cent in 2017. Sound policies around balancing public spending with private investment could accelerate growth to 7.3 per cent by 2018, it said.
India’s GDP may slow from 8.6 per cent in 2015 to 7.0 per cent in 2017 because of disruptions by demonetisation and the GST, the World Bank has forecast and warned that subdued private investment due to internal bottlenecks could put downside pressures on the country’s potential growth.
The International Monetary Fund yesterday also lowered India’s growth projection to 6.7 per cent in 2017, 0.5 percentage points less than its previous two forecasts and slower than China’s 6.8 per cent.
India’s economic momentum has been affected by disruptions from the withdrawal of banknotes and uncertainties around the Goods and Services Tax (GST), the World Bank said in its South Asia Economic Focus, a biannual economic update.
As a result, growth is expected to slow from 8.6 per cent in 2015 to 7.0 per cent in 2017. Sound policies around balancing public spending with private investment could accelerate growth to 7.3 per cent by 2018, it said.
