What is the India’s GDP forecast in 2018, as per World Bank’s latest report “2018 Global Economic Prospects (GEP) ?

The World Bank (WB) in its latest report “Global Economic Prospects GEP-2018” has projected India’s GDP growth rate at 7.3% in 2018 and 7.5% for the next two years. As per report, despite initial setbacks from demonstration and Goods and Services Tax (GST), India’s economy is estimated to have grown at 6.7% in 2017. Ayhan Kose, the Director of World Bank(WB)’s Development Prospects Group (DPG), stated that India’s growth potential will be around 7% for the next 10 years. For global economy, World Bank’s outlook, for the first time in many years, is better than expected with all regions seeing improved growth. However, it has warned that countries must make investments to improve their growth prospects, and the time to do that is before the next crisis hits, as it inevitably will.

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According to the World Bank's newest study, 2018 Global Economic Prospects, India's GDP was expected to grow by 7% in 2018. (GEP). In its report released on October 5, 2018, the World Bank has forecast India’s economic growth to be 7.1% in 2018 and 8.6% by 2020. This is an improvement from the last estimate made by the World Bank on September 11, which foresaw a growth of 6.7% and 7.2%. The predictions have been made using their latest data available for the third quarter of this year too.