World Bank has projected a strong 7(point)2 per cent growth rate for India this year against 6(point)8 per cent growth in 2016. World Bank revised India’s growth figures by 0.4 percentage points as compared to its January forecast, noting it is recovering from the temporary adverse effects of demonetisation. It also said, despite the slight slump in growth rate India still remains the fastest growing major economy in the world.
The growth projections for China remains unchanged at 6.5 per cent for 2017 and then 6.3 per cent for the next two years 2018 and 2019.