New Delhi,India’s fiscal deficit is expected to continue to decline in the coming years on the back of strong tax revenues, and India is expected to continue to be the fastest growing major economy with an economic growth rate of 6.70 per cent in the next two fiscal years,
What happens if the fiscal deficit decreases?
The World Bank also said: India’s fiscal deficit is expected to continue to decline in the coming years on the back of strong tax revenues.
Economic growth is expected to be 6.70 per cent in the next two fiscal years. India’s services sector is likely to register steady growth.
Information in the World Bank report,
For the next two financial years, India’s economic growth will be 6.70 percent.
At the same time, government initiatives to improve freight handling, infrastructure, and tax revenue reforms could also boost manufacturing sector growth.
Personal consumption is expected to increase on the back of improving labor markets, expanding credit availability, and declining inflation. Investment growth is expected to remain stable on the back of rising private investment and strong corporate balance sheets.
For South Asia as a whole, growth is expected to be 6.20 percent in the next fiscal year. Inflation is expected to remain subdued in countries including India, Nepal, and Sri Lanka. It said.
