Estimate of India's growth rate in the current financial year by the World Bank.

Estimate of India's growth rate in the current financial year by the World Bank.

Daily Current Affairs   /   Estimate of India's growth rate in the current financial year by the World Bank.

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Category : Business and economics Published on: October 04 2023

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  • In October 2023, the World Bank estimated India's growth rate in the current financial year.
  • According to the World Bank, India's growth rate in the current financial year is estimated to be 6.3%.
  • The World Bank has said in its report that India's growth rate is the second highest among G-20 countries and almost double the average of emerging market economies.
  • This resilience is driven by strong domestic demand, strong public infrastructure investment and a strong financial sector.
  • The country's bank credit increased by 15.8 percent in the first quarter of the current financial year, whereas it had increased by 13.3 percent in the first quarter of the previous financial year.
  • The World Bank was established in the year 1944.
  • Its headquarters is located in Washington DC.
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