The Report titled “India Development Update”, released by World Bank takes a long-term perspective on India’s growth outlook. Looking back at the last 50 years, India’s average growth has accelerated slowly but steadily across sectors – agriculture, industry and services – and become more stable. It further notes that the states and the center are playing an important collective role in the implementation of the reform agenda.
It summarised that the Indian economy is likely to recover from the impact of demonetization and the GST, and growth should revert slowly to a level consistent with its proximate factors -that is, to about 7.5 percent a year.
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