India to Grow at 7.7% in 2018, Newer Challenges Loom, Says Arun Jaitley
Emerging markets face newer challenges in the form of inward looking policies of protectionism and increased geopolitical tension, Finance Minister Arun Jaitley said on Saturday as he pegged India's GDP growth at 7.7 per cent in 2018.
File photo of Union Finance Minister Arun Jaitley . (Image: PTI)
New Delhi: Emerging markets face newer challenges in the form of inward looking policies of protectionism and increased geopolitical tension, Finance Minister Arun Jaitley said on Saturday as he pegged India's GDP growth at 7.7 per cent in 2018.
Speaking at the second annual meeting of the New Development Bank (NDB) here, Jaitley said global growth is moving upwards and is expected to improve further in 2017-18.
Jaitley said emerging market economies (EMEs) face newer challenges in the form of inward looking policies of protectionism of some economies, global financial condition, policies of the United States and increased geopolitical tension.
"India has huge unmet infrastructure funding needs... $646 billion is required in next 5 years (for financing infrastructure)," Jaitley said. He said growth in emerging and developing countries is picking up and news from economies of BRICS countries is "encouraging".
"I hope that NDB will emerge as a development bank and help in funding of emerging economies," Jaitley added.(Get detailed and live results of each and every seat of the state Assemblies in Madhya Pradesh, Rajasthan, Telangana, Chhattisgarh and Mizoram to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you put on the psephologist's hat. Know interesting facts and trivia about the elections. Elections = News18)
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