Here is why World Bank said “India’s economy projected to grow at 7.5 per cent in next three years”

The world Bank has asserted that India’ economy will be projected to grow at 7.5 percent in the next three years. This can be considered as a good news for the new Indian government.

The bank in its Global Economic Prospects relea-sed on Tuesday said India is estimated to have grown 7.2 per cent in fiscal year 2018-19. A slowdown in government consumption was offset by solid investment, which benefitted from public infrastructure spending.

As against a growth rate of 6.6 per cent in 2018, China’s growth rate in 2019 is projected to be dropped to 6.2 per cent and then subsequently to 6.1 per cent in 2020 and 6 per cent in 2021, the World Bank said.

Private consumption and investment will benefit from strengthening credit growth amid more accommodative monetary policy, with inflation having fallen below the RBI’s target,” it said.