Monday 21 Jan, 2019

India advanced in 2018; World Bank says India achieved 7.3% economic growth

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Washington: The World Bank says India has a huge growth potential and the Indian economy is on the path of growth. The World Bank said India's growth in 2018 was 7.3 percent.

The World Bank estimates that India can within the next 10 years to subdue other economic powers. India will see 7.5 per cent economic growth in next two years, according to World Bank authorities said.

India's growth rate was lower than the previous years by the implementation of the demonetization and GST.

India's economic growth has been driven backwards by the implementation of GST and non-prohibition. This is only the growth of 2017 6.7, according to data released by the World Bank.

In 2017, China's growth rate was 6.8 percent. China has managed to achieve a record 0.1 per cent growth rate last year, while India's growing slowly but progressively than China's growth, "said Ayhan Kose, Director, Development Prospects Group at the World Bank.

Kose explained in his report that India needs to develop a investment ambience for economic stimulus. India also has an opportunity for a big leap in education, employment and health sectors, said Aihan Kozz.

Women's participation in Indian labor is very low when compared to other economic forces. World Bank spokespersons added that ensuring women's participation will help to improve the financial situation of India.

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