India’s Economic Fundamentals Remain Strong; Investment Pick-Up Needed for Sustained Growth, says New World Bank Report
The World Bank has just released its flagship report highlighting the state of the Indian economy, its future growth prospects. According to the report, India remains the fastest growing economy in the world - economic fundamentals are strong, and reform momentum continues. GST is on track for implementation in the second quarter of the fiscal year, and is expected to yield substantial growth dividends from higher efficiencies, and raise more revenues in the long term. While, agriculture growth delivered in 2016-2017, the report notes that investment growth remains subdued, partly because of banking sector stress.
The report also highlights the low and falling participation of women in the labour market. For India to achieve higher growth, it needs to create safe, flexible and well-paying jobs for a large number of women who are currently not in the labour market. Read the report in full at: http://ow.ly/LX3j30cW9sJ