"Growth is expected to accelerate from 6.7 in 2017 to 7.3 per cent in 2018 and to subsequently stabilise supported by a sustained recovery in private investment and private consumption," the World Bank said.
World Bank India head Junaid Kamal Ahmad said what drives productivity is pertinent when it comes to innovation and is a very relevant question for India as it seeks to move up the ladder from low middle income to high income country.
The World Bank added that business environment had also improved in the country and the global liquidity had continued to remain positive.
Do global institutions such as the World Bank and the IMF need to be reformed? Will China's growing influence in Asia affect the existing international order?
Romer said the World Bank is "beginning the process of correcting the past reports and republishing what the rankings would have been without the methodology changes".
India is estimated to have grown at 6.7 per cent in 2017, according to the 2018 Global Economics Prospect released by the World Bank in Washington on Tuesday.
World Bank CEO Kristalina Georgieva praised India for its sudden jump of 30 ranks in 2017, the biggest leap ever, in the history of the ease of doing business.
India’s 30-place leap in the World Bank’s ‘Doing Business 2018’ rankings affirm India’s growth story as well as the Centre’s reforms agenda.
The government is working with the World Bank to recognise over 200 reforms that will help propel India into the top-50 bracket in ease of doing business.
Failure or success of any start-up also depends on the idea that drives it, Finance Minister Arun Jaitley said when asked why several Indian start-ups have failed over the past three years.
India entering the top 100 club for the first time matters a lot, and Finance Minister Arun Jaitley deserves kudos for this achievement.
Prime Minister Narendra Modi's target to take India amongst the first 50 is doable and can be achieved, said FM Arun Jaitley
The Congress said "ease of doing business" has become "cease of doing business" for micro, small and medium enterprises under the Modi government.
Jaitley also said that Prime Minister Narendra Modi’s vision of taking India to top 50 in the ‘ease of doing business’ index was a doable task.
Riding on government’s major economic reforms like demonetisation and Insolvency and Bankruptcy Code, India jumped to rank 100th in the 2018 edition of the World Bank's 'Ease of Doing Business' index.
Finance Minister Arun Jaitley is holding a press conference over India's big leap in the Ease of Doing Business list released by World Bank
India made a double-digit jump in the World Bank's 2018 edition of Ease of Doing Business report, reacing the 100th spot from the previous 130th in 2016.
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