“There could be some changes in the January review of India’s growth forecast,” Basu said.
He was responding to media queries on whether failure of the Centre to get the GST Bill passed will have an impact on the projection.
“Decision-making and reforms can have an impact in terms of growth rate and the fact that a couple of important decisions did not go through could have an impact. But India is dominating for a couple of reasons,” Basu said here today.
Recession in Brazil and Russia and slowdown in China have made India the leading economy in terms of growth prospects for the first time this year, Basu said.
Basu indicated that India’s dominance in growth will continue due to a couple of reasons. “China has slowed a lot and would go below 7 per cent growth, and Russia and Brazil are in recession,” Basu said.
“But what is helping India is a positive general mood which helps investment climate. The oil price drop is also helping India and Bangladesh.”