India to grow robust at 7.8% in 2016-17

According to the World Bank‘s latest Global Economic Prospect (GEP) report, India will continue to be the bright spot of the global economy and is projected to grow at a robust 7.8% in fiscal 2016-17.

• World Bank marginally reduced India‘s growth rate 2% in 2015 and 0.1% in both 2016 and 2017 but still continues to be the bright spot of the global economy.
• China is estimated to grow at 7% in 2016 and 6.5% each in 2017 and 2018.
• Russia and Brazil are expected to remain in recession in 2016.