Home Nation World Business Politics Odd & Weird Region Entertainment Education
Pardaphash Logo
Hindi


World Bank likely to peg Indian GDP at 5.5 in 2012: Kaushik Basu




Published by:
Published on: Sat, 15 Dec 2012 at 05:46 IST
World Bank likely to peg Indian GDP at 5.5 in 2012: Kaushik Basu
New Delhi: World Bank in its initial estimates has expected Indian economy's growth to remain around 5.5 % this year. An announcement in this regard can be done on January 15 by the bank in its announcement. To reach this rate, WB expects the economy to grow by more than 5.5 % in October- December months.

Moreover, it is likely to peg India's GDP to grow by little less that 6% next year, 7% in 2014 and 2015.

This was hinted by Kaushik Basu, Senior Vice President & Chief Economist at World Bank at the ongoing Economic Conclave. Stressing that reforms started by government and especially its direct cash transfer scheme will be useful for the poor and will help economy go back on growth path.

Indian economy showed growth by 5.3 % in the fourth quarter (January- March) of 2011-12. The average growth in the first six months of FY 2012-13 was 5.4 %. It stated that a growth of 5.5 % in calendar year 2012 would be possible only when GDP growth in October- December is higher than 5.5 %.

"You could expect it to be just short of 6% in the next year and 7% in 2014 and 2015," he said. He added that it may see some changes when the Bank makes a formal announcement on January 15

He went on to add that next year would be very hard for India's growth trajectory because of global slowdown. He said few countries like Thailand and Indonesia are growing at 6-7% rate.

He said,"The European situation will remain very difficult up to the end of 2014 and may be in the beginning of 2015. That is going to rub-off on India but if it can begin to move up to 6-7% in this difficult situation that would be good."

Emphasizing on India's fundamental strength he said,"If you work on this there is no reason why the country can't get back to 8-9% growth."
Previous
Ranveer Singh's heart stirring gesture, see what!
Ranveer Singh's heart stirring gesture, see what!
In Pics | Mithun Chakraborty, Punit Pathak, Gaiti Siddiqui & Mudassar and Jay Bhanushali at the launch of Dance India Dance (DID) Season 5
In Pics | Mithun Chakraborty, Punit Pathak, Gaiti Siddiqui & Mudassar and Jay Bhanushali at the launch of Dance India Dance (DID) Season 5
Marathi film Welcome Zindagi's Premiere at Metro Big Cinemas in Mumbai
Marathi film Welcome Zindagi's Premiere at Metro Big Cinemas in Mumbai
Miley Cyrus bares all for Paper Magazine
Miley Cyrus bares all for Paper Magazine
Bruce Jenner finally debuts as Caitlyn on Vanity Fair
Bruce Jenner finally debuts as Caitlyn on Vanity Fair
Feel the heat with Sofia Hayat's bikini pics for Victoria's Secret
Feel the heat with Sofia Hayat's bikini pics for Victoria's Secret
AbRam poses very much like father Shah Rukh Khan
AbRam poses very much like father Shah Rukh Khan
PardaPhash's 4th Anniversary Graced by Principal Secretary, Information, Navneet Sehgal
PardaPhash's 4th Anniversary Graced by Principal Secretary, Information, Navneet Sehgal
IPL 2015 CSK vs MI Final: Mumbai Indians winning moments
IPL 2015 CSK vs MI Final: Mumbai Indians winning moments
Deepika Padukone’s Piku success bash, a starry affair
Deepika Padukone’s Piku success bash, a starry affair
Bollywood beauty Katrina Kaif at Cannes International Film Festival 2015
Bollywood beauty Katrina Kaif at Cannes International Film Festival 2015
The Upcoming Bollywood diva - Pernia Qureshi
The Upcoming Bollywood diva - Pernia Qureshi
Sneak peek into Karan Patel, Ankita Bhargava’s wedding and reception
Sneak peek into Karan Patel, Ankita Bhargava’s wedding and reception
Bombay Velvet Team celebrates Anushka Sharma’s Birthday at screening | See Pictures
Bombay Velvet Team celebrates Anushka Sharma’s Birthday at screening | See Pictures
Lucknow Boy Harsh Singh wins All India Dance Championship 2015
Lucknow Boy Harsh Singh wins All India Dance Championship 2015
Next
BREAKING NEWS
 
Opinion Polls
Will Ajinkya Rahane be able to impress as captain in Zimbabwe?
Yes
No
Can't Say


Pardaphash name, logo and all associated elements ® and © 2011 Mahakaal News Management Pvt. Ltd.
All rights reserved. Pardaphash and the Pardaphash logo are registered marks of Mahakaal News management Pvt. Ltd.
Pardaphash is hosted with Enzoo could compute engine.
Valid XHTML 1.0 Transitional
This page is generated in : 0.006 Seconds