With a population of more than 1.2 billion, India is the world’s largest democracy. Over the past decade, the country’s integration into the global economy has been accompanied by economic growth. India has now emerged as a global player.
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NEW DELHI, June 20, 2014: Unlike most developing countries, India’s recent growth has been well below potential, which provides space for economic activity to accelerate without building inflationary pressures.Global... Show More + Economic Prospects 2014, presented in New Delhi today, says growth in India is projected at 5.5% in FY2014-15, accelerating to 6.3% in 2015-16 and 6.6% in 2016-17. This comes at a time when the outlook for most other developing countries is largely flat as they have by now recovered from the crisis and are growing close to potential, says the report.Overall, the global economy is expected to pick up speed as the year progresses and is projected to expand by 2.8% this year, strengthening to 3.4 and 3.5% in 2015 and 2016. High-income economies will contribute to about half of global growth in 2015 and 2016, compared with less than 40% in 2013.Developed economies are projected to inject an additional $6.3 trillion to global demand over the next three years, which is significa Show Less -
Growth outlook sensitive to US taper in 2014WASHINGTON, January 14, 2014 – The world economy is projected to strengthen this year, with growth picking up in developing countries and high-income economies... Show More + appearing to be finally turning the corner five years after the global financial crisis, says the World Bank’s newly-released Global Economic Prospects (GEP) report.The firming of growth in developing countries is being bolstered by an acceleration in high-income countries and continued strong growth in China. However, growth prospects remain vulnerable to headwinds from rising global interest rates and potential volatility in capital flows, as the United States Federal Reserve Bank begins withdrawing its massive monetary stimulus.“Growth appears to be strengthening in both high-income and developing countries, but downside risks continue to threaten the global economic recovery,” said World Bank Group President Jim Yong Kim. “The performance of advanced economies is gaining momentum, Show Less -
WASHINGTON, October 9, 2013 – Economic growth in South Asia will be modest this year and in 2014. At such a pace, the goal of ending extreme poverty by 2030 will not be attained. Governments must work... Show More + harder on reforms to raise growth in a region where most of the world's poor live, the World Bank said today. According to the South Asia Economic Focus report, South Asia was the second-fastest growing region in the world in the aftermath of the global crisis. However, its recent performance has been less stellar, and it has been sustained by potentially volatile portfolio inflows. More stable Foreign Direct Investment (FDI) in the region is low, half that of other regions relative to GDP; inflation is twice that of other regions and fiscal deficits and debt-to-GDP ratios are high.“South Asia must return to the growth rates achieved before the global financial crisis of at least eight percent a year so that it can significantly reduce poverty,” said Philippe Le Houérou, World Bank Vice P Show Less -