In great news for all Indians,The World Bank on Monday said that the Indian economy has recovered from the effects of demonetisation and Goods and Services Tax (GST)

The World Bank also predicted a growth rate of 7.3 percent for India in 2018.

Further, the apex international financial institution forecasted a rate of growth of 7.5 percent for 2019 and 2020.

The World Bank in its twice-a-year South Asia Economic Focus report said that the growth is expected to accelerate from 6.7 percent in 2017 to 7.3 percent in 2018, and will subsequently stabilise, supported by a sustained recovery in private investment and private consumption.

The report also noted that India should strive to accelerate investments and exports to take advantage of the recovery in global growth.