World Bank estimates – Indian economy will grow at the rate of 7.5 percent in 2024. Loktej Business News
[ad_1]
New Delhi, 03 April (HS). A good news has come from the economy point of view. The World Bank has estimated that the Indian economy will grow at the rate of 7.5 percent in the year 2024. This latest estimate of the World Bank is 1.2 percent more than the previous estimate. Along with this, the World Bank said that the entire South Asian countries will also grow at the rate of six percent.
The World Bank said in the updated report on South Asia growth released late on Tuesday night that India’s gross domestic product (GDP) could grow at the rate of 7.5 percent in 2024. This estimate of the world is 1.2 percent more than the forecast released earlier. The World Bank has said that due to continued flexibility in the service sector and industry in India, the growth rate can reach 7.5 percent.
According to the World Bank, overall growth rate in South Asia is expected to strengthen to 6.0 percent in 2024. This will be possible mainly due to strong growth in India and a substantial recovery in Pakistan and Sri Lanka. According to the report, South Asia is expected to remain the fastest growing region in the world for the next two years, while the growth rate is estimated to be 6.1 percent in 2025.
The World Bank said in its report that India’s economy is the largest in the total economy of South Asia. India’s growth rate may be 7.5 percent in the financial year 2023-24. However, after mid-term it may come back to 6.6 percent. According to the report, service sector and industrial development will be most important in India’s growth rate.
[ad_2]
Source link
