The World Bank has projected a GDP growth rate of 8% for India by 2017. And also said that a strong expansion in the country including favourable oil prices would accelerate the economic growth in South Asia.

The GDP in India is expected to accelerate to 7.5% in the Financial Year 2015-16, In the FY 2017-18 it could reach 8% and on the back of significant acceleration of investment growth to 12% during FY 2016-2018, Bank said in its semi annual report.

“Savings from reduced subsidy bills could be used to address the crying needs of the region in terms of infrastructure, basic services and targeted support for the poor,” said World Bank Vice President for South Asia Annette Dixon.