World Bank Forecasting about India’s Economic Growth to 7% for Financial Year 2024-25

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World Bank Forecasting about India’s Economic Growth to 7% for Financial Year 2024-25




  

The World Bank has previously predicted a growth of 6.6% but now they casting it by 7%. These assumptions are also backed by the International Monetary Fund (IMF) and Asian Development Bank (ADB). India is on its way to become the fastest growing economy in the world..

 

What is the reason behind being one of the fastest growing economy for India ?

 

The answer is; India is boosting its public infrastructure investment and households investment. It is due to the support of floating manufacturing sector ‘in the supply side’ which is grew by 9.9%. Urban employment is improved. This growth and development attempts may lead to decrease the inflation rate which will help to reduce the extreme poverty situations in India.

                                                                                                                                     




Suggestions for the country 

·   It can boost its trade by working more on its IT sector services and pharma where it excels.

·   It is the time for India to grow its export in textile, apparel (cloth) and footwear sector. 



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