India Development Update, October 2015 : Fiscal Policy for Equitable Growth
Indias economy expanded by 7.3 percent in FY14-15 and 7.0 percent in Q1 FY15-16 (y/y). Industrial growth increased and despite government services slowing down, services expanded. Domestic drivers increased, while exports declined. Private consumpt...
| Main Authors: | , , , |
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2015
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2015/10/25220429/india-development-update-fiscal-policy-equitable-growth http://hdl.handle.net/10986/22894 |
| Summary: | Indias economy expanded by 7.3 percent
in FY14-15 and 7.0 percent in Q1 FY15-16 (y/y). Industrial
growth increased and despite government services slowing
down, services expanded. Domestic drivers increased, while
exports declined. Private consumption growth stayed strong
and investments gained momentum. Gross domestic product is
expected to increase gradually to 7.5 percent in FY15-16.
The positive outlook is dependent upon the implementation of
important domestic reforms which include: boosting the
balance sheets of the banking sector through a sustainable
solution of the debt overhang of primarily power and road
infrastructure firms, continuing to improve the ease of
doing business and enacting the crucial Goods and Services
Tax, and enhancing capacity of state and local governments
to deliver public services as more resources are devolved
from the centre. |
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