Source: Business Standard, July 18, 2017
New Delhi: Indian economy is expected to grow at 7.2 per cent this financial year, up from 6.8 per cent in 2016, says a World Bank report. According to the report, though the anxiety about the festering twin-balance sheet problem persists, the economy may grow at an even higher 7.5 per cent the year after.
The World Bank has, however, revised its forecasts for growth downwards from what was projected in its January update.
On the other hand, China’s economic growth is projected to slow at 6.5 per cent in 2017, down from 6.7 per cent the year before. But given the strong second quarter growth, China’s GDP grew at 6.9 per cent belying expectations, overall growth for the year may well end up being higher.