Discuss the main edifices of urban structural reform initiatives taken by the Government of India with deficiencies?
India’s economy is expected to grow significantly in 2015 as progress in the government’s structural reform agenda and improved external demand lift investor confidence, says a new Asian Development Bank (ADB) report.
ADB’s flagship annual economic publication, Asian Development Outlook 2015 (ADO), released today, forecasts India’s gross domestic product (GDP) will grow by 7.8% in the fiscal year ending March 2016 (FY2015), driven by improved performance in the industry and services sectors. Growth momentum is expected to build to 8.2% in FY2016.
“India is expected to grow faster than the People’s Republic of China in the next few years. The government’s pro-investment attitude, improvements in the fiscal and current account deficits, and some forward movement on resolving structural bottlenecks have helped improve the business climate and make India attractive again to both domestic and foreign investors,” said ADB Chief Economist Shang-Jin Wei.
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