World Bank's India Assessment

2023 • 15min • News • Business


Published On: April 04, 2023 - In another latest report, released by the World Bank, India’s GDP growth is likely to moderate to 6.3 pc in FY24 due to shrinkage in consumption on back of slower income. The World Bank has lowered its forecast for India's economic growth in the current fiscal year from 6.6%. World bank projects retail inflation in India is expected to see moderation from 6.6 pc to 5.2 pc in FY24, which is well within RBI’s tolerance limit. India's Current Account Deficit, the difference between exports and imports is expected to be 2.1 pc in FY24.