Wide-angle view of India's economy

The World Bank has forecast India's economy to grow 7.6 per cent in 2016-17, which is not only 0.2 percentage-points lower than its earlier prediction in January, but also the same as witnessed in 2015-16. Next two years - 2017-18 and 2018-19 - would also see India growing at 7.7 per cent; the growth rates, which are 0.2 percentage-points lower than earlier projections and represent only a marginal improvement over 2016-17. However, in the global context, India would still be the fastest growing major economy. Though growth forecasts for China were retained, the growth rates for the country would decline from 2015 onwards to 2019. Global economy would also grow 2.4 per cent in 2016, a 0.5 percentage-point lower than earlier predictions by the multilateral agency and at the same rate witnessed in 2015. The global growth rates would improve in the next two years, though at a slower pace than was expected earlier