Home Business Newsvoir
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
Top Nude Kim Kardashian Pictures
Top Nude Kim Kardashian Pictures
Chiranjivi's 60th birthday was a starry affair in Hyderabad
Chiranjivi's 60th birthday was a starry affair in Hyderabad
Kate Upton, Miranda Kerr, Amber Valleta clicked topless for V Magazine
Kate Upton, Miranda Kerr, Amber Valleta clicked topless for V Magazine
Madhur Bhandarkar's hottest 'Calendar Girls' theatrical trailer launch bash
Madhur Bhandarkar's hottest 'Calendar Girls' theatrical trailer launch bash
All Is Well team including Abhishek Bachchan, Asin and director Umesh Shukla hold Press Conference in Ahmedabad
All Is Well team including Abhishek Bachchan, Asin and director Umesh Shukla hold Press Conference in Ahmedabad
Kim Kardashian shares nude picture; flaunts baby bump
Kim Kardashian shares nude picture; flaunts baby bump
Trailer launch of T Series' film Bhaag Johnny in Mumbai
Trailer launch of T Series' film Bhaag Johnny in Mumbai
Trailer launch of Zeishan Quadri's directorial debut film Meeruthiya Gangsters
Trailer launch of Zeishan Quadri's directorial debut film Meeruthiya Gangsters
Priyanka Chopra enjoyed with fans on 'Quantico' sets in New York
Priyanka Chopra enjoyed with fans on 'Quantico' sets in New York
PM, Prez pay last tributes to Bharat Ratna APJ Abdul Kalam
PM, Prez pay last tributes to Bharat Ratna APJ Abdul Kalam
Mission: Impossible Rogue Nation Snaps | See rare gallery
Mission: Impossible Rogue Nation Snaps | See rare gallery
See Selena Gomez seductive photos collection days ahead of her 23rd birthday
See Selena Gomez seductive photos collection days ahead of her 23rd birthday
Shahrukh Khan starrer Raees first look
Shahrukh Khan starrer Raees first look
Kim Kardashian sports gold bra; poses in NUDE bodysuit
Kim Kardashian sports gold bra; poses in NUDE bodysuit
Ranveer Singh's heart stirring gesture, see what!
Ranveer Singh's heart stirring gesture, see what!
Next

Related Stories:-

BREAKING NEWS
Indian rocket carrying GSAT-6 blasts off
 
Opinion Polls
Will MIM, Asaduddin Owaisi’s entry in UP affect Samajwadi Party’s Muslim vote bank?
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 : 0.011 Seconds




EXCLUSIVE: HC slams UP Jal Nigam over solid waste management projects; notice to Chief Secretary