Indian economy is projected to grow at 7.2 per cent in 2018-19

New Delhi-As per the World Economic Situation and Prospects 2018 report of the United Nations, the Indian economy is projected to grow at 7.2 per cent in 2018-19 and 7.4 per cent in 2019-20. The report indicates that the outlook for India remains largely positive, underpinned by robust private consumption and public investment as well as ongoing structural reforms.The confidence in the Indian economy has increased on account of policy measures taken up by the government and Reserve Bank of India. Recently, Moody’s rating agency upgraded India’s local and foreign currency issuer rating to Baa2 with a stable outlook from Baa3 on the expectation that continued progress in India’s economic reforms will enhance India’s growth potential over time. According to World Bank’s Ease of Doing Business 2018 Report, India’s ranking improved by 30 positions to 100th rank in 2018.