There is good news for the Indian economy on the growth front.According to the World Bank analysis,it is going to embark on a positive growth trajectory as compared to the other emerging economies.
A lot of innovative and comprehensive reforms.
India’s growth journey-
India is projected to hit an all time high at the rate of 7.3 in the financial year 2018 and it has grown at a rate of 6.7 % in spite of the initial setbacks which occurred due to demonetization ans the Goods and Services tax regime.
This notification was released in 2018 Global Economics Prospects Report which was released by World Bank just a day before.
The short term numbers may not be all rosy but that does not deter from the fact that India is going to project a high growth than the other major economies.
The more good news is that it is expecting to grow even more than China and is expected to accelerate with even higher growth rates.
What is the projection based on?
The projection is based on the growth number of the past 3 years and how the economy has fared overall.
What’s more it is likely to grow at a rate of 7.3% and is expected to increase at 7.5 % over the coming years.
China is reportedly expected to grow at 6.8 % which is certainly marginally less than India.
What measures are underway?
India has very good potential with respect to the complete secondary education in INDIA.
It has improved the labor market reforms,education and various health reforms.
It has also worked hard on improving the investment scenario and is keeping attention on improving the overall prospects.
This is largely due to INDIA’S favorable demographic profile which is missing in other economies.
However some loopholes still exist-
Reducing unemployment is very critical and one of the main issues for the economy.
Inducing female labor participation in the workforce is very important.
India is a very huge economy with tremendous growth prospects but overcoming the challenges is going to be a
The challenges ahead-
There are going to be temporary disruptions but on the whole it is a positive picture.And the good news is that the Government is well aware of these temporary disruptions.