Amid concerns over the slower Gross domestic product (GDP) growth of the country, multilater agency World Bank has raised some hopes and its President Jim Yong has said that the recent slowdown in India's economic growth is an aberration triggered by temporary disruptions in preparation for the Goods and Service Tax (GST), hoping that this temporary blip will get sorted in the near future.
The World Bank President also praised the government’s initiatives like GST and Swachh Bharat Abhiyan, and said that all of those efforts will yield good results. He said that the GDP growth will stabilise during the year and GST is going to have a positive impact on the Indian economy. Jim Yong though expressed some concerns over the challenges which the country is facing now in the fields like educational and health.
He praised the 'commitment' of Prime Minister Narendra Modi to sanitation issues, and said 'Swachh Bharat' is one of the most effective programmes anywhere and raised optimism about the country, saying India has room to improve like most other countries. India's GDP grew 5.7 per cent on a year-on-year basis during the April-June period (Q1).