World Bank report: India’s GDP growth will remain strong 2017 :- World Bank has said the GDP Growth of India will remain strong at 7.6% in 2016 and 7.7% in 2017. In its latest report on South Asia Economic Focus released on Monday, the World Band said that In India, GDP growth will remain strong at 7.6 percent in 2016 and 7.7 percent in 2017, supported by agriculture, civil service pay reforms supporting consumption, increasingly positive contributions from exports and a recovery of private investment in the medium term.
The biannual report said that India faces the challenge of further accelerating the responsiveness of poverty reduction to growth, promoting inclusion, and extending gains to a broader range of human development outcomes related to gender, education, nutrition, and health.
As per the report, South Asia remains a global growth hot-spot and has proven resilient to external headwinds such as China’s slowdown.
It said that GDP Growth in Bangladesh has remained robust despite external and internal headwinds. Growth will be sustained at 6.8% in 2017, coming slightly down from 7.1 percent in 2016.
In Pakistan, economic activity is projected to gradually accelerate over the medium term reaching 5.0% in 2017 and 5.4% in 2018, building upon 4.7% GDP growth at factor cost in 2016.
The report said that this year is expected to see some convergence in urban and rural economies, supported by stimulating policies, such as GST and civil pay revisions, along with good monsoons.
The report said that the recent success in poverty reduction, gains have been uneven, with greater progress in states and social groups that were already better-off.