World Bank predicts India’s economic growth to slow to 6.9% in FY23

Daily Current Affairs / World Bank predicts India’s economic growth to slow to 6.9% in FY23

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Category : Business and economics Published on: January 13 2023

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A World Bank report has projected India’s economy to grow 6.9 per cent in FY23, much lower than the 8.7 per cent growth achieved by the country in the previous financial year.
The World Bank noted that India’s goods trade deficit has more than doubled since 2019, while CAD stands at a nine-year-high at 4.4 per cent of the GDP.
The World Bank has projected India’s FY24 GDP growth to slow to 6.6 per cent before.
The World Bank expects global growth to decelerate sharply in 2023 to 1.7 per cent from the 3 per cent it predicted six months ago.