HOME > MARKETS > ECONOMY NEWS
  ECONOMY NEWS
ECONOMY
India achieves seven-plus growth rate over last 15 years: World Bank
Oct-16-2019

Highlighting developments achieved by India, the World Bank has said that the country has halved its poverty rate since the 1990s and achieved a seven-plus growth rate over the last 15 years. It also noted that India is both critical to the success of global development efforts, including eliminating extreme poverty, and as an influential leader for global goods such as addressing climate change.

World Bank is expecting India's growth to continue and elimination of extreme poverty in the decade is within reach and added that the country's development trajectory nonetheless faces considerable challenges. It further said that India will need to achieve greater resource efficiency as it sustains growth, given its resource endowments and large population.

As per the World Bank, India's rapidly growing economy needs investment in infrastructure, an estimated 8.8 percent of GDP or $343 billion a year until 2030. Besides, sustained growth will also need to accelerate inclusion, especially to create more and better jobs.

  RELATED NEWS >>