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Business EconomyPosted at: Jan 7 2016 6:13PM


Improving infra, public spend to cushion India against financial market turmoil: World Bank

New Delhi, Jan 7 (UNI) Improving infrastructure and public spending will help India offset impact of financial turmoil that could result from further tightening of US monetary policy, says the World Bank.
“Progress on infrastructure improvements and government investment are expected to offset the impact of any tightening of borrowing conditions resulting from tighter US monetary policy. Such investment will also lift potential growth over the medium term,” says the multilateral bank in its latest report titled, Global Economic Prospects: Spillovers amid Weak Growth.
The US Federal Reserve increased its interest rates by 25 basis points last month for the first time since 2006.
If the Federal Reserve continues with the tightening of monetary policy, it could trigger capital outflows from developing countries like India.
While economy recovery picks up in major developed countries, all emerging economies except are facing slowdown.
India is the only emerging economy where growth is picking up momentum.
India has planned 1 trillion dollar of infra spend during the current Five-year Plan ( April 2012-March 2017).
Meanwhile, both the Government and industry share the view that infra spending needs to be jacked up to stimulate domestic demand given the continuing weakness in the export market.
UNI NM AE 1813
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Tags: #Improving infra# public spend to cushion India against financial market turmoil: World Bank
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