India will overtake Germany in 2022?!

India will overtake Germany in 2022 as the world’s fourth-largest economy and push Britain out of the top five, based on analysis of growth projections by the International Monetary Fund. But according to a report of The Economic Times there are many challenges the South Asian nation must surmount to get there. These include executing a wide-ranging overhaul of the tax system, sorting out the biggest pile of distressed assets among major economies, reviving lackluster productivity, substantially increasing employment opportunities, encouraging corporate investment and overcoming a significant infrastructure shortfall.

India’s economy is still recovering from a cash ban that sucked out 86 percent of currency in circulation near the end of last year. And then there’s the likely near-term disruptions from the implementation of a nationwide goods and sales tax; indeed the government has already missed an April deadline for putting the tax in place and is now working against the clock to meet its new July 1 goal.

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