If majority of economists are to be believed, the world is traveling towards yet another global financial meltdown-just like the one that struck during 2008-09. However, economies around the globe are planning and working hard to minimize the ill effects this time. Several precautionary measures are being called up for and super-economies such as America, Russia and others are keeping a hawk-eye on the constantly changing financial graphs. There are few countries which are slotted to be responsible for the changes and the list carries more of developing nations.
Whereas, the trends in another country within the same continent is relatively contradictory as India is riding high on a growth wave. Of all the upcoming nations; India is termed to be the “star-performer” at least for the next 10 years. Rest of the group like Brazil, China and others are also expected to gain but at a slower pace. The current scenario for the Chinese is undoubtedly dull as it is predicted to further slow down.
India expected 7.7% growth in 2016-
According to recent research outcomes from the financial sector, India is most likely to grow at a high rate of 7.7% in 2016. If this is achieved, India will overdo China for the second year in a row (in terms of growth). The same organizations assume that India will be the single nation that would not be affected by the monetary depression which is largely affecting other economies.
Moreover, Indian economy is more likely to feature as a fastest growing on a longer run in terms of average growth. The recent fall in oil prices is expected to help the Indian growth story as it is a net importer of the commodity.
“#Indian economy expected to clock 7.7% growth in 2016, which outshone #China for the second consecutive year”