The World Bank expects India to grow at 7.5 per cent in the next three years backed up by robust investment and private consumption.
The Global Economic Prospects of the World bank that has just been released said India is estimated to have grown 7.2 per cent in fiscal 2018/19, that ended on March 31.
Solid investment that befitted from public infrastructure spending has prevailed over the slowdown in government consumption.
Against India's growth rate of 6.6 per cent in 2018, China’s in 2019 is projected to have dropped to 6.2 per cent and subsequently to 6.1 per cent in 2020 and 6 per cent in 2021, the bank report aid.
Thus India will continue to retain the position of the fastest growing emerging economy. And by 2021, its growth rate is projected to be 1.5 per cent more than China’s 6 per cent.
The World Bank projects India's growth at 7.5 per cent in Fiscal 2019/20 (April 1, 2019 to March 31, 2020), unchanged from the previous forecast. This means it will to stay at this pace through the next two fiscal years.