World Bank may revise its GDP growth projection, says Basu

Kolkata, Dec. 26 (ANI): World Bank chief economist Kaushik Basu on Saturday indicated that the bank may revise its GDP (Gross Domestic Product) growth projection for India after it goes for a stock-taking in a few months.

Fielding media queries here on whether failure of the Centre to get the GST Bill passed will have an impact on the projection, Basu indicated that India’s dominance in growth will continue due to a couple of reasons.

Recession in Brazil and Russia and slowdown in China have made India the leading economy in terms of growth prospects for the first time this year.

He, however, did not clarify on whether the uncertainty over the countrywide sales tax reform would influence the investment sentiment and the projection.

Until October, the World Bank retained India’s growth forecast at 7.5 percent for 2015-16 and expected it to be 7.8 percent in 2016-17 and 7.9 percent in 2017-18. (ANI)

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