India's GDP expected to grow at 7.3% in 2018-19, says World Bank
Updated : January 09, 2019 07:16 AM IST
In India, the growth has accelerated, driven by an upswing in consumption, and investment growth has firmed as the effects of temporary factors wane, the World Bank said in its latest report.
Domestic demand has strengthened as the benefits of structural reforms such as the Goods and Services Tax (GST) harmonisation and bank recapitalisation take effect.
Strong domestic demand is envisioned to widen the current account deficit to 2.6 percent of GDP next year. Inflation is projected to rise somewhat above the midpoint of the Reserve Bank of India's target range of 2 to 6 percent, mainly owing to energy and food prices, the bank said.
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