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Indian GDP growth to remain robust: World Bank

India's GDP growth will remain healthy at 7.6 percent in 2016 and 7.7% in 2017, it has said

Policy Pulse
Publish Date: Oct 4 2016 12:20PM | Updated Date: Oct 4 2016 4:43PM

Indian GDP growth to remain robust: World Bank

 The World Bank has said that India's Gross Domestic Product (GDP) growth will remain healthy at 7.6 percent in 2016 and 7.7 per cent in 2017.

 
"In India, GDP growth will remain strong at 7.6 per cent in 2016 and 7.7 per cent in 2017, supported by expectations of a rebound in agriculture, civil service pay reforms supporting consumption, increasingly positive contributions from exports and a recovery of private investment in the medium term," the multilateral lender said in its latest report on South Asia Economic Focus released in Washington.
 
"However, 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 health, nutrition, education and gender," the report said.
 
As per the World Bank, Indian economic growth remained robust, which is expected to support continued poverty reduction, as in the past.
 
"This year is expected to see some convergence in rural and urban economies, supported by stimulating policies, such as passage of GST (Goods and Services Tax) and civil pay revisions, along with good monsoon," the report said.
 
The Centre has set the target of April 1, 2017, for implementing the GST for a systematic overhaul of the Indian indirect tax regime.