World Bank increased its growth rate estimate
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Indian Economy: The whole world is struggling with economic problems. The economy of many countries is being affected due to the war between Russia and Ukraine and the tension between Israel and Hamas in the Middle East. Meanwhile, the Indian economy is standing strong. Now the World Bank (World Bank) has also said a big thing about the Indian economy. The World Bank has estimated the growth rate of the Indian economy to be 7.5 percent in 2024. It has revised its earlier estimate by 1.2 percent. Regarding South Asia growth, the World Bank said on Tuesday that overall the 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 the recovery of Pakistan and Sri Lanka to a large extent.
Growth rate will be 6.1 in the year 2025
According to the report, South Asia is expected to remain the fastest growing region in the world for the next two years. The growth rate in 2025 is estimated to be 6.1 percent. Martin Rager, World Bank Vice President for South Asia, said South Asia’s growth prospects remain bright in the short term, but the fragile fiscal position and increasing climate shocks are a matter of concern. To make growth more resilient, countries need to adopt policies that encourage private investment and strengthen employment growth.
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South Asia is missing out on taking advantage of population
Franziska Ohnsorge, the World Bank’s chief economist for South Asia, said South Asia is currently failing to take full advantage of its demographic dividend. He is missing the opportunity. He said that if the region employs a larger share of the working-age population like other emerging markets and developing economies, its production capacity could increase by 16 percent.
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