BREAKING NEWS LIVE UPDATES - 06 December 2022: World Bank Raises India's FY23 GDP Growth Forecast From 6.5% To 6.9% On Robust Economic Activities
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World Bank Raises India's FY23 GDP Growth Forecast From 6.5% To 6.9% On Robust Economic Activities
The World Bank has revised upwards India’s GDP growth forecast for the current financial year to 6.9 per cent due to robust economic activities in the country, from the 6.5 per cent estimated earlier. It expects the retail inflation at 7.1 per cent in 2022-23, according to the World Bank’s latest India Development Update. The report, however, has flagged a deteriorating external environment.
The 6.9 per cent India growth forecast for FY23 is higher than the World Bank’s earlier projection of 6.5 per cent given in October. In October, it warned that spillovers from Russia’s invasion of Ukraine and global monetary tightening will weigh on the economic outlook. Before this, the World Bank had estimated a growth of 7.5 per cent earlier.
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