Growth driven by public sector infra
The World Bank sees Indian economic growth at 7.5% over the next three years, driven by robust investment and private consumption.
The Indian economy has grown 7.2% 2018-19, estimated the bank’s Global Economic Prospects released on 4 June 2019.
Investment in the public sector infrastructure had offset the slower government consumption, according to the report which sees India as the fastest growing emerging economy.
“Private consumption and investment will benefit from strengthening credit growth amid more accommodative monetary policy,” said the report.
Comparatively, China’s 2019 growth rate is projected at 6.2% from 6.6% in 2018.
The bank sees Chinese economic growth at 6.1% in 2020 and 6% in 2021.
India’s 2021 growth is projected to be 1.5% more than China’s 6%, the report pointed out. fiinews.com
