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India can maintain a growth rate of 7.6 per cent GDP growth in 2016-17, which would accelerate to 7.7 per cent in 2017-18 and 7.8 per cent in 2018-19, said the World Bank on Monday.
In its report- India Development Update- Financing Double Digit Growth, it said that the economy's potential growth rate is about 7.4% to 7.5%.
"The outlook for the coming year is favourable and robust," said Frederico Gil Sander, Senior Country Economist, World Bank and main author of the report.
However, double digit growth will depend on various factors including higher participation of women in the labour force, productivity growth such as business environment reform agenda and GST as well as a pick up in private investment.
While the expectation of good monsoon and improvement in rural demand will boost growth, Onno Ruhl, Country Director, World Bank (India) said that improved global prospects would be also be necessary for double digit growth in the domestic economy.
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