World Bank Expected Growth Rate of India Up to7.2% in 2017 (Download PDF)

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India’s growth rate has been projected up to 7.2 % in 2017 financial year by Global Economic Prospects (GEP) of the World Bank which was 6.8 % growth in 2016. The bank also has predicted growth of India up to 7.5 % in 2018 and 7.7 % in 2019.

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Created with Highcharts 5.0. 12YearRate of IndiaGrowth Rate of India6.86.87.27.27.57.57.57.5Rate of India201620172018 (estimated) 2019 (estimated) 02.557.5102018 (estimated) Rate of India: 7.5

Key Facts

  • The World Bank has predicted global growth at 2.7 % in 2017 and 2.9 % in 2018.
  • The bank has refer to stronger demand from major advanced economies and has improved trade flows which was come to and from China and a reduce drag from weak demand from goods exporters which is reason for recovery in trade growth in 2017.
  • India is recovering from the temporary difficult effects which were resulted from demonetisation movement so World Bank has noted India’s growth.
  • Even during demonetisation movement the growth rate of India was slowdown still India was fastest growing major economy in the world according to the World Bank.
  • The growth rate of China is projected at 6.5 % for 2017 which is unchanged and for the next two years 2018 and 2019 the growth will be 6.3%.
  • According to the report domestic demand will remains strong in India supported by ongoing policy reforms, especially the introduction of the Goods and Services tax (GST).

About World Bank

  • International financial institution providing loans to developing countries to implement capital programs.
  • Founded in July 1944.
  • Headquartered at Washington DC, United States.
  • Motto: Working for a World Free of Poverty.
  • Goal: reduction of poverty IBRD has 189 member countries and IDA has 173 member countries.
  • It is one of five components of the World Bank Group- a part of the United Nations.
  • It is divided in two institutions:
  1. The International Bank for Reconstruction and Development (IBRD)
  2. The International Development Association (IDA)
  • World Bank Group includes more three institute and they are
  1. International Finance Corporation (IFC)
  2. Multilateral Investment Guarantee Agency (MIGA)
  3. International Centre for Settlement of Investment Disputes (ICSID)

Functions of World bank

  • Provides various technical services to the member countries.
  • Can grant loans to a member country up to 20 % of its share in the paid-up capital. Quantities of loans, interest rate and terms and conditions are determined by the Bank itself.
  • Also provides loan to private investors belonging to member countries on its own guarantee.

- Published/Last Modified on: June 11, 2017

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