Good news has come for the Modi government before the budget. The International Monetary Fund has said that for the past some time the Indian economy was going through a sluggish period, but no longer. According to the IMF, the sluggishness of the Indian economy has now gone away and it has started to catch pace again. The fund has said that in the case of growth, India has again been in the forefront of achieving its leading position in the world.
First Deputy Managing Director of the International Monetary Fund, David Lipton said in the Asian Financial Forum that India was in a period of lethargy for some time, but now this sloth is beginning to end. In this program in Hong Kong, he said that the Indian economy has started to become an increasingly fast growing economy.
Lipton said that the pace of the Indian economy has increased rapidly with strong consumption, investment, rising exports and continuous capital inflows. He said that time is good for the Asian market in the coming days.
Recently, the World Bank also said that India’s economy would grow rapidly. The World Bank had estimated that India’s growth rate in 2018 would be 7.3 percent. According to bank estimates, it will be close to 7.5 percent for the next two years.
GST effect will end
The World Bank has released the ‘Global Economics Prospect’ report. In it, he said that there is potential in India. India will emerge this year with the first shutdown of note-taking and GST and this will increase the economy. The World Bank said that the present government is making new changes. Because of this, Indian economy has the potential to grow faster than other economies.
India will move ahead
Ahan Koss, director of the Development Prospect Group of the World Bank, said that in the coming decade, India will prove to be the fastest emerging economy in comparison to all emerging economies. That’s why I will not pay attention to short-term figures. I will see India on a large scale and after seeing it on a large scale, it shows that there is tremendous potential in India.
India will surpass China
Kose, while comparing India with China, said that China’s economy is in a time of sluggishness. In such a situation, India’s economy will accelerate over time. Kose said that if the figures of the growth rate of the last three years are seen, they are quite good.
