While forecasting India’s economic growth during the coming three years, both the World Bank and the International Monetary Fund (IMF) have indicated that India will emerge as the fastest growing economy in the world. Finance minister Arun Jaitley has recently indicated that India’s growth rate could be even higher than 7.5% if the global economy also shows positive trends. He also expects that India can grow at such pace for a considerable period.
Thus, the background in which various sectors have to perform and grow is quite clearly defined. Every sector of economy has to contribute and grow with the same celerity and it is quite feasible in the given environment. The political will that is behind such expectations is surely going to provide a very constructive ecosystem for rapid growth. In this scenario, government spending will go up and public consumption will also grow.
