New Delhi, Oct 6 (SocialNews.XYZ) Citing the deteriorating global scenario, the World Bank on Thursday downgraded India's GDP forecast for the current fiscal to 6.5 per cent.
In June 2022, it had projected that Indian economy will grow at a rate of 7.5 per cent.
In April also, the World Bank had cut India's GDP forecast from 8.7 per cent to 8 per cent.
At the same time though, it noted that India's economic recovery is faster than the rest of the world.
The forecast has come just days before its annual meeting.
The Reserve Bank of India (RBI) had also cut the economic growth projection for 2022-23 from 7.2 per cent to 7 per cent, citing tightening of rates by US Federal Reserve and the prevailing geopolitical scenario.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
