The World Bank has decided to maintain its growth forecast for India in the fiscal year 2023-24 at 6.3 per cent. This decision comes as India continues to exhibit strong economic growth despite facing substantial external challenges.
The World Bank in its April report had cut India’s growth forecast for 2023-24 to 6.3 per cent from the earlier 6.6 per cent. According to the World Bank’s latest India Development Update (IDU), the international financial institution’s flagship half-yearly report on the Indian economy, observed that despite significant global challenges, India was one of the fastest-growing major economies in 2022-23 at 7.2 percent.
