World Bank on Tuesday released its Global Economic Prospects Report titled ‘Darkening Skies’. The title is in sync with the global economic prospects which according to World Bank have darkened due to tightening financial conditions and elevated trade tensions.

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The report emphasisedthat recovery in emerging markets and developing economies has stalled and that many countries have also experienced significant financial stress. However, the skies are absolutely clear and the Indian economy has a bright future ahead since India’s GDP is expected to grow at 7.3% in 2018-19 followed by 7.5 per cent in the next two fiscal years as well.

With this India will continue to be the fastest growing economy in the world. The global growth has been projected at a rate of 2.9%, one per cent below last year’s growth which stood at 3%.