According to a report from the World Bank, the economy growth rate of India will accelerate to 7.5% in 2019-20.
It has also projected the growth rate of Indian economy for 2020-21 and 2021-22 at 7.5%.
According to a report from the World Bank, the economy growth rate of India will accelerate to 7.5% in 2019-20.
The report form the World Bank has also projected the growth rate of Indian economy for 2020-21 and 2021-22 at 7.5%.
The country’s economy growth rate for 2018-19 is unchanged as consumption remains strong and growth in investment continues.
The report further eMphasised India will retain its position as the world’s fastest growing major economy.
The long-term growth potential of the Indian economy is optimistic due to its young Population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the Global Economy.
India has one of the fastest growing service sectors in the world with an annual growth rate above 9% since 2001, which contributed to 57% of GDP in 2012–13.
India has become a major exporter of IT related services with $154 billion revenue in FY 2017.
