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India Buckled up To Push Britain Out of the Top 5 World Economies by 2022
April 29, 2017
According to the projections provided by the International Monetary Fund, Indian will surpass Germany and establish itself as the 4th most powerful economy, knocking out Britain from the top 5 in the process. Although, there is a myriad of challenges to overcome first.
Some of the major challenges that India needs to overcome include inefficient tax system, lack of employment opportunities, and increasing non-performing assets.
Although GST is expected to be helpful in the long run, the banking system in the country can certainly use some improvement according to the economists. Bad loans and restructured debt have risen to more than 16% today. This needs to be addressed as soon as possible.
