Ques: As per Global Economic Prospects Report (GEP)-2016 which was released by World Bank Group the estimated growth rate of India and World economy during 2016 are:
(a) 7.3 % and 2.9 %
(b) 8.3 % and 3.9 %
(c) 7.3 % and 4.2 %
(d) 7.3 percent and 4.2 percent
Ans (b)
Related facts
- On January 6, 2016 Economic Prospects with the title of ‘Spillovers amid weak growth’ was released by the World Bank Group (Washington, D.C.).
- As per report global growth rate was only 2.4 % in 2015. While estimated growth rate in 2016 is 2.9 % however both in 2017 and 2018 growth rate are 3.1 %.
- According to latest report the India’s growth rate was 7.3 % in 2015 however estimated growth rate were 7.8 % and 7.9 % in 2016 and 2017-18 respectively.
- As per report the South Asia’s growth rate was 7.0 % in 2015 however estimated growth rate were 7.3 % and 7.5 % in 2016 and 2017-18 respectively.
- As per the latest report the growth rate in East Asia and Pacific region was 6.4 % during 2015. While estimated growth rate were 6.3 % and 6.2 % in 2016 and 2017-18 respectively.
- As per report the growth rate of Euro region was 1.5 % in 2015. While estimated growth rate were 1.7 % and 1.6 % in 2016 and 2017-18 respectively.
- As per GPE-2016 the economic growth rate was 1.6 % in high income countries during 2015. While estimated economic growth rate were 2.1 % in both 2016 and 2017-18.
- As per report the economic growth rate was 5.1 % in low income countries during 2015. While estimated economic growth rate were 6.2 % and 6.6 % in 2016 and 2017-18 respectively.
- As per report growth rate of BRICS countries was 3.9 % in 2015. While estimated growth rate were 4.6 % and 5.3 % in 2016 and 2017 respectively.
- As per GEP report the global economic growth was remain weak as per prior estimates the reason behind is reduced flow of capital and trade.
- As per GEP report the slow growth rate of four emerging markets of the world (Brazil, Russia, China and South Africa) were produced restriction in Spillovers Effect on World Economy.
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