"With an expected growth of 7.5 percent this year, India is, for the first time, leading the World Bank's growth chart of major economies."
Source/Credit: Foreign Policy Magazine
By South Asia Daily | June 11, 2014
World Bank Group's latest Global Economic Prospects (GEP) report released on June 10 puts India at the top of the growth chart of major economies (LiveMint, Reuters, IBT).
Chief Economist and Senior Vice President of World Bank Kaushik Basu said: "With an expected growth of 7.5 percent this year, India is, for the first time, leading the World Bank's growth chart of major economies."
According to the report China is likely to grow at 7.1 percent.
The Bank expects developing countries to witness a rise in growth to 5.2 percent in 2016 and 5.4 percent in 2017.
The report indicated that falling crude oil prices has lowered the risks for the Indian economy, as the country meets its oil needs significantly from imports.
Read original post here: India tops World Bank’s growth outlook for the first time
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