Question: As per the World Bank’s Global Economic Prospects report, India’s GDP is expected to grow —– in the fiscal year 2018-19?
(a) 7.2
(b) 7.3
(c) 7.4
(d) 7.5
Answer: (b)
Related facts:
- As per World Bank’s Global Economic Prospects (GEP) report released on 9th January, 2019, India’s GDP is expected to grow at 7.3 in the fiscal year 2018-19, and 7.5 in the following two years.
- The growth is defined by economic activity which continued to recover with strong domestic demand. While investment continued to strengthen amid GST harmonization and a rebound of credit growth, consumption remained the major contributor to growth.
- As per the report, India will continue to be the fastest growing major economy in the world.
- Meanwhile,China’s economic growth is projected to be 6.2 each in 2019 and 2020 and 6 per cent in 2021, according to the January 2019 Global Economic Prospects report released by the World Bank.
- Global economic growth is projected to soften from a downwardly revised 3 percent in 2018 to 2.9 percent in 2019 amid rising downside risks to the outlook, the World Bank.
About Global Economic Prospects (GEP):
- Global Economic Prospects GEP is World Bank Group’s flagship report that examines global economic developments and prospects with special focus on developing and emerging market economies.
- It is published biannually and partly updated two times a year. It portrays the world economy in the near and medium context, with projections for up to four years into the future.
Links
http://www.worldbank.org/en/publication/global-economic-prospects
https://www.business-standard.com/article/economy-policy/india-s-gdp-to-grow-at-7-3-in-fy19-7-5-in-next-two-years-world-bank-119010900059_1.html
https://elibrary.worldbank.org/doi/abs/10.1596/978-1-4648-1343-6