Question
According to the revised forecast by the World Bank,
what is the new GDP growth projection for India in the fiscal year 2024?Solution
World Bank expects growth in India to slowdown further to 6.3% in the financial year FY 2023/24 (April to March). This is a 0.3 percentage point downward revision from the previous estimates of 6.6%. The international financial institution attributes constrained private consumption due to high inflation as the main reason for slowdown. Nevertheless, it expects India to continue to be among the fastest-growing economy.
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