new delhi indias growth story is expected to dominate the headlines in the years ahead with both the world bank and the international monetary fund predicting robust expansion for asias third largest economy on the back of reform initiatives launched by the government and the impact of lower global oil prices the fact that india will overtake china as the fastest growing economy by 201516 is well acknowledged the world bank in a report on south asian economies said indias economy is expected to accelerate to 8 in 201718 after a growth of 76 in 201516 in 201415 growth is expected to be 72 the world bank said in its south asia economic focus spring 2015 titled making the most of cheap oil the imf in its world economic outlook weo update said indias growth is expected to strengthen from 72 in 2014 to 75 in 2015 growth will benefit from recent policy reforms a consequent pickup in investment and lower oil prices lower oil prices will raise real disposable incomes particularly among poorer households and help drive down inflation the imf said it said in china growth fell to 74 in 2014 and is expected to fall further to 68 in 2015 03 percentage point lower than the october 2014 weo forecast as previous excesses in real estate credit and investment continue to unwind ongoing implementation of structural reforms and lower commodity prices are expected to expand consumer oriented activities partially buffering the slowdown imf said indian government expects the economy to grow 8185 in the current financial year while rbi has forecast 78 growth economic indicators have signalled signs of green shoots and policymakers expect the momentum to be sustained on the back of reform measures that unfold in the months ahead higher production capacity commensurate with accumulating capital and increase in factorproductivity and continued but targeted fiscal consolidation will help curb domestic and external imbalances in the face of rising domestic demand in the mediumterm the world bank report said it said acceleration in real gdp growth will be driven largely by higher investments which are expected to grow at an average of 12 during 20152017 the report said inflationary pressures are likely to ease gradually on account of lower crude prices and an improved production capacity will prevent overheating in the mediumterm