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9th August 2016 Current Affairs Questions and Answers

9th August 2016 Current Affairs MCQs, Quiz, Questions : Current Affairs for August 2016 ,  Daily Multiple Choice Questions (MCQs) for In...

India’s GDP will be 8% by 2017 - World Bank

World Bank predicts 8 per cent GDP growth rate for India by 2017, says strong expansion in the country, coupled with favourable oil prices, will accelerate economic growth in South Asia. The World Bank has predicted a GDP growth rate of 8 per cent for India by 2017 and said that a strong expansion in the country, coupled with favourable oil prices, would accelerate the economic growth in South Asia. In India, GDP growth is expected to accelerate to 7.5 per cent in fiscal year 2015-16.
It could reach 8 per cent in fiscal year 2017-18, on the back of significant acceleration of investment growth to 12 per cent during fiscal year 2016-2018. The country is attempting to shift from consumption to investment-led growth, at a time when China is undergoing the opposite transition, it said in its semi-annual report. The bank's twice-a-year South Asia Economic Focus report projected steady increase in regional growth from 7 per cent in 2015 to 7.6 per cent by 2017 on grounds of strong consumption and increasing investment.