India Recovery Gradual

A gradual economic recovery is seen in India, as the corporate sector adjusts to Goods and Services Tax and infrastructure spending improves, a United Nations’ Economic and Social Survey of Asia and the Pacific reported Tuesday, IANS said . “A gradual recovery is foreseen in India, according to the report; with private investment being expected to revive as the corporate sector adjusts to GST, infrastructure spending and corporate and bank balance sheets improving with government support,” it said in a statement in New Delhi. As per the report, the 2018 growth rate is expected to moderate in South and South-West Asia, before picking up again in 2019. “The ESCAP forecasts economic growth to moderate to 6% in 2018 in South and South-West Asia (from 6.4% in 2017), before picking up to 6.2% in 2019,” the statement said. In addition, the report pointed out that due to robust domestic demand and improved global economic prospects, developing economies in the Asia-Pacific region are projected to grow by 5.5% in both 2018 and 2019, with a slight moderation in China offset by a recovery in India and steady performance in the rest of the region.